Clairvest related stories
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Brice beefs up stake in ClairvestBrice has increased its stake in Canadian private equity firm Clairvest Group. According to terms of the transaction, Brice bought 39,200 common shares in Clairvest at a price of $25 per share. Brice currently owns 61,700 common shares in Clairvest.
Clairvest announces sale of KUBRAClairvest Group announced this week that it has completed its sale of KUBRA, a Toronto-based customer communication management company, to Hearst Corp, a New York-based media group. Clairvest first invested in KUBRA in 2006, realizing a return of 13.5x its investment, while KUBRA announced Hearst had acquired an 80 percent share of the company. Financial terms were not disclosed.
- Clairvest closes CEP V at C$600 mln
Clairvest Group has closed its fifth partnership, Clairvest Equity Partners V LP (CEP V), at its C$600 million ($556 million) hard cap.
Clairvest hits the C$600 mln hard cap on Fund VClairvest Group kicked in C$180 mln as a GP commitment to boost Fund V to its C$600 million (US$554.4 million) hard cap.
Clairvest raises largest fund to date, closing CEP V at $600 mlnClairvest Group has closed its fifth partnership, Clairvest Equity Partners V LP (CEP V), at its $600 million hard cap. By all measures, fundraising this time around has surpassed past efforts by the Toronto-based mid-market private equity firm. CEP V is by far the largest third-party partnership in Clairvest's 27-year history. CEP IV, which closed in 2011, raised $467 million.
- Clairvest closes fifth fund on C$600 million
The Canadian private equity firm is focusing on industrials in its latest vehicle
Imperial Capital, OPTrust join forces in $121 mln investment in Dental CorpSmiles were brighter at Canadian private equity firm Imperial Capital Group and OPTrust Private Markets Group (PMG) this week as the two organizations completed a joint $121 million majority investment in Dental Corp, a group of Canadian dental care clinics. The investment is the largest in Imperial's 25-year history and its fifth healthcare deal. The transaction also holds significance for OPTrust PMG, which recently flagged an interest in sourcing more direct investment opportunities.
LTR distribution gives Clairvest over $100 mln, 3.1x its investmentLight Tower Rentals Inc, a portfolio company of Canadian private equity firm Clairvest Group, has completed an issue of US$330 million of senior secured notes. Proceeds were applied to the company's existing debt and provided for a shareholder distribution. Clairvest, which has backed Light Tower since 2008, received a distribution of US$100.3 million, which equates to 3.1x Clairvest’s investment. Clairvest realized 25 percent of this amount, or US$25.1 million on a pre-tax basis, and continues to maintain a majority stake in the company. Based in Odessa, Texas, Light Tower is a specialty rental and service company renting surface-based support equipment to the oil and gas industry.
Clairvest puts Kubra on the blockCanadian online payment processor Kubra, which is backed by private equity firm Clairvest Group, is up for sale, five sources told peHUB. Kubra, of Mississauga, Ontario, is a payment processor for utilities and companies in the insurance, financial services and healthcare sectors. First round bids for the company, which could sell for US$500 million, are due in June, sources said.
- Clairvest puts payment processor Kubra on the block
The Canadian online payment processor Kubra, which is backed by the Clairvest Group, is up for sale, five sources said.