Clairvest related stories
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Clairvest Promotes Mitch Green to Managing DirectorCanadian mid-market private equity firm Clairvest Group has promoted Mitch Green to managing director. Joining the firm in 2002, Green has been involved in a number of Clairvest investments, including PEER 1 Network Enterprises Inc., which was acquired for $526 million by Cogeco Cable Inc. in January 2013. Green currently serves on the boards of directors of portfolio companies CRS Contractors Rental Supply and Linen King.
- Green Named MD at Clairvest Group
Clairvest Group said Monday it promoted Mitch Green to Managing Director, effective immediately. Green has been with Clairvest since 2002 and has been involved with Clairvest's efforts in the equipment rental industry, IT Services and select business service verticals.
- Clairvest – the Long Distance Runner
Clairvest Group is racking up quite a track record. The Toronto-based firm last month won the 2013 ‘Deal of the Year’ from Canada’s Venture Capital & Private Equity Association for its sale of PEER 1 Network Enterprises -- its third such win in the past five years.
- Clairvest and Teachers Win CVCA's 2013 PE Deal of the Year
Private equity firms Clairvest Group and Teachers' Private Capital have both won the 2013 ‘Deal of the Year’ award in the private equity category from Canada’s Venture Capital & Private Equity Association. Clairvest won for the 2012 sale of PEER 1 Network Enterprises Inc. to Cogeco Cable Inc. for an equity value of $526 million, giving the firm a 40% IRR and 3.2 times its original investment. Teachers was awarded for last year's sale of Maple Leaf Sports and Entertainment Ltd. to BCE Inc. and Rogers Communications Inc. for over $1.3 billion, giving the firm a 16% IRR and 5.3 times total invested capital.
- Fewer Canadian PE Deals Take $2.1B in First Quarter
Buyout and related private equity (PE) deal-making in Canada moderated in the first quarter of 2013, reports Thomson Reuters (publisher of peHUB Canada). Deal volume declined 47% year over year, however, disclosed deal values, totaling $2.1 billion, were on par with activity in Q1 2012. Natural resource sectors accounted for the largest shares of both transactions and dollar flows. Liquidity events were steady in Q1 2013, as were new commitments to Canadian buyout-PE funds, which totaled $1.1 billion.
- Clairvest Backs County Waste
Clairvest Group, Clairvest Equity Partners IV Limited Partnership and Clairvest Equity Partners IV-A Limited Partnership have announced a combined US$15 million investment in County Waste of Virginia. County Waste is a private regional solid waste management company based in West Point, Virginia.
- PE-Backed Centaur Gaming Acquires Indiana Grand Casino, Indiana Downs Racetrack
Centaur Gaming has acquired Indiana Grand Casino and Indiana Downs Racetrack. Canadian mid-market buyout firm Clairvest Group invested $8.4 million in support of the Indiana Grand acquisition in the form of unsecured term loans with stapled warrants.
Clairvest Invests in Ontario Equipment Rental CompanyCanadian mid-market buyout firm Clairvest Group has made an investment in CRS Contractors Rental Supply LP, a private company focused on providing construction rental equipment and related merchandise, with locations across Ontario. The investment, totaling C$39.5 million, originated through Clairvest’s rental services domain activity. The CRS investment is Clairvest's first disclosed investment in 2013. Last month, the firm successfully exited PEER 1 Network Enterprises Inc. through that company's sale to Cogeco Cable Inc.
- Clairvest Group Backs CRS Contractors Rental Supply
CRS Contractors Rental Supply has raised $39.5 million from the Clairvest Group Inc. The company is a provider of construction rental equipment, and is based in Ontario.
- Caisse de dépôt Provides Financing for Cogeco's Buy of PEER 1
Canadian pension fund manager the Caisse de dépôt et placement du Québec has extended a C$50 million term loan to Cogeco Cable Inc. that will assist in the company's purchase of PEER 1 Network Enterprises Inc., a Vancouver-based internet infrastructure supplier specializing in managed hosting and cloud services. The recently-closed PEER 1 acquisition, valued at C$635 million, provided the Canadian private equity firm Clairvest Group with an exit, generating an internal rate of return of 40%. Clairvest first invested in the company in 2009.