Clairvest related stories
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PE-Backed New Centaur Moves on Racetrack-Casino BuyNew Centaur LLC, a portfolio company of Canadian mid-market buyout firm Clairvest Group, is now free of regulatory constraints to proceed on its bid to acquire Indiana Grand Casino and Indiana Downs in Shelbyville, Indiana. The previously-announced acquisition has been estimated to value US$500 million. Indianapolis-based New Centaur, which holds various gaming interests in the state, including the Hoosier Park Racing & Casino, first received investment from Clairvest in 2010.
- Clairvest Group Exits PEER 1 Network Enterprises
Clairvest Group Inc. has exited PEER 1 Network Enterprises Inc., selling the company to Cogeco Cable Inc. In August 2009, Clairvest invested $25.2 million in PEER 1. Under terms of the sale, Clairvest received sale proceeds of $79.5 million which took Clairvest's total proceeds over the investment's life to $81 million, which equates to 3.2 times invested capital and an internal rate of return of 40%.
- PEER 1 Acquisition Likely to Close at End of January
PEER 1 Network Enterprises, Inc., a portfolio company of Canadian private equity firm Clairvest Group, agreed in late December 2012 to be acquired by Cogeco Cable Inc. for C$526 million. The expiry date of the pending transaction is January 29. The Vancouver, British Columbia-based PEER 1, an internet infrastructure provider which specializes in managed hosting, dedicated servers, cloud services and colocation, secured a C$25.1 million investment from Clairvest in 2009, reflecting 17.2% of the company's equity.
- Capital markets slow amid Europe chaos
Following a strong first quarter of 2012 that saw ‘wide open’ capital markets in the US and Canada, lending has taken a significant hit, largely due to continued uncertainty in Europe.
- Clairvest closes Fund IV on $467m
The Canadian mid-market firm is the single largest investor in the fund, which came in over its $400m target.
- CVCA urges government-backed VC initiatives
Canada’s Venture Capital & Private Equity Association is calling for more federal support for venture capital funds to halt an investment decline in the high-tech industry.
- Allco secures Signature for AU$145m
The Sydney-headquartered private equity firm has bought the third-largest security services business in Australia and New Zealand.
- Direct effect
Three Canadian pensions are among the biggest direct private equity investors in the country. Teachers', OMERS and the Caisse are at turns partners, rivals and emulators of each other, and their respective programmes are the results of wildly divergent histories. David Snow reports from Toronto and Montreal
- Clairvest Group, Clairvest Equity Partners III Reorganizes Chilean Investments
Clairvest Group Inc. sold Casino Marina del Sol, Latin Gaming Chile S.A. and Latin Gaming Osorno S.A. at original cost to a Chile Holdings for $15.9 million and a 35.6 percent stake in the new holding company. Additionally, Clairvest Equity Partners III LP sold its investment in Casino Marina del Sol to Chile Holdings at cost and received a 40.9 percent in the holding company.