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DWHP promotes Aly Champsi to managing director, partnerDW Healthcare Partners (DWHP) has promoted Aly Champsi to managing director and partner. Champsi, who joined DWHP in April 2014, will be responsible for overseeing due diligence, structuring and execution of the firm's healthcare private equity investment opportunities from its Toronto office. He joined DWHP from Canadian private equity firm Clairvest Group, where he served as a principal. DWHP, which also has an office in Park City, Utah, last month partnered in the acquisition /2016/12/3423398/ of Edge Systems LLC.
DWHP ups Champsi to MD and partnerToronto and Utah-based DW Healthcare Partners, a healthcare-focused private equity firm, has promoted Aly Champsi to managing director and partner. Champsi's work background includes positions at BMO Nesbitt Burns, Mercer Management Consulting and Clairvest Group.
Clairvest to earn 92 pct IRR from sale of Cieslok Media to BellCanadian private equity firm Clairvest Group has sold its portfolio company Cieslok Media Ltd, a Toronto-based outdoor advertising business, to Bell Media Inc for an undisclosed sum. Clairvest, which partnered with Jörg Cieslok in a management buyout in 2013, said it realized cash proceeds equal to 7.8 times invested capital with the deal's closing. This could rise to 8.4 times invested capital with the resolution of certain post-closing matters, giving Clairvest an internal rate of return of 92 percent. Cieslok was Clairvest's first platform investment in the media space. Last year, Clairvest closed a second deal in the sector with its US$20.5 million investment /canada/2016/7/clairvest-revs-up-deal-making-with-accel-dms-investments/ in Digital Media Solutions.
- Clairvest hikes up majority stake in Discovery Air
Canadian mid-market private equity firm Clairvest Group has acquired additional shares in Discovery Air Inc, a specialty aviation and logistics company headquartered in Etobicoke, Ontario. According to terms of the transaction, Clairvest purchased over four million shares in Discovery Air at $0.20 per share, increasing its majority stake to about 81 percent.
Clairvest's Discovery Air to sell fire services business to MAGCanadian specialty aviation services provider Discovery Air Inc (TSX: DA.A) has agreed to sell its fire services business to MAG Aerospace Corp. The deal, which has a total consideration of about $15.38 million, is expected to close by November. Toronto-based Discovery said the sale will allow it to focus on the strategic growth of its core businesses and reduce debt. Discovery is majority-owned by Canadian private equity firm Clairvest Group. MAG, a Woodbridge, Virginia-based provider of outsourced specialty aviation and intelligence, surveillance and reconnaissance services, is also backed by Clairvest.
Clairvest revs up deal-making with Accel, DMS investmentsCanadian private equity firm Clairvest Group closed its first platform investments in roughly a year, backing a pair of U.S. companies in the digital media and gaming industries. In a release issued to shareholders last month, Clairvest disclosed a US$20.5 million investment in Digital Media Solutions , a performance marketing company. The second investment saw Clairvest acquire a minority stake in video gaming specialist Accel Entertainment for US$32.5 million. The deals illustrate the Toronto-based firm's long history of investing in sectors that leverage its domain knowledge.
Clairvest exits investment in textile rental business Linen KingCanadian private equity firm Clairvest Group recently realized its investment in Linen King LLC, a U.S.-based textile rental business that provides commercial laundry services to the healthcare and hospitality industries. The nature of the exit was not specified by Clairvest, which noted the event in its fiscal 2016 second quarter results. The firm invested US$8.6 million in Linen King in October 2011. Clairvest also exited Casino New Brunswick as a result of last month's sale /canada/2015/10/02/clairvest-exits-casino-new-brunswick/ to Great Canadian Gaming Corp.
Clairvest completes $95 mln sale of Casino New BrunswickCanadian private equity firm Clairvest Group has completed the previously-announced sale /canada/2015/05/12/great-canadian-gaming-to-buy-clairvests-casino-new-brunswick-for-95-mln/ of Casino New Brunswick to Great Canadian Gaming Corp. The deal, which had a total value of $95 million, provided Clairvest with about $57 million in proceeds. Based in Moncton, Casino New Brunswick is a casino, hotel and multi-use entertainment and convention centre. Clairvest invested in the business in 2008 as part of a group that won an open government request for a proposal to build and operate the first and only casino complex in the province. Casino New Brunswick now generates annual gaming revenues in excess of $50 million, Clairvest said.
- Clairvest closes sale of Casino New Brunswick
Clairvest Group has completed the sale of Casino New Brunswick, a Canadian casino and hotel complex, to Great Canadian Gaming Corp. As a result of the closing, Clairvest has received about C$57 million in proceeds.
Government officials OK buy of PE-backed Casino New BrunswickGreat Canadian Gaming Corp [TSX: GC] has received government approvals for its purchase of Casino New Brunswick, a casino, hotel and multi-use entertainment and convention centre located in Moncton. The deal, valued at about $95 million /canada/2015/05/12/great-canadian-gaming-to-buy-clairvests-casino-new-brunswick-for-95-mln/ is expected to close early next month. The sellers are Canadian private equity firm Clairvest Group and Sonco Gaming New Brunswick LP. Clairvest said it expects to receive /canada/2015/05/12/great-canadian-gaming-to-buy-clairvests-casino-new-brunswick-for-95-mln/ gross proceeds of about $55 million from the transaction.