Clairvest Group Inc.

Clairvest Group Inc.

June 13, 2007 13:27 ET

Clairvest Announces Closing of Divesture of Datamark Systems Group

TORONTO, ONTARIO--(Marketwire - June 13, 2007) - Clairvest Group Inc. (TSX:CVG) announced today it has completed the divesture of its holding of Datamark Systems Group.

Over the life of its investment in Datamark Systems Group, Clairvest invested $14.7 million and received gross cash proceeds of $25.6 million, including $6.4 million upon the sale of Clairvest's 37% interest in Datamark. Clairvest also received 1,546,473 shares of the new combined entity of Datamark and Komunik Corporation, representing a 4.54% fully diluted interest in the combined entity.

About Clairvest

Clairvest Group Inc. is a Canadian merchant bank that invests its own capital, and that of third parties through Clairvest Equity Partners Limited Partnership and Clairvest Equity Partners III Limited Partnership, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.

Cautionary note about forward-looking statements

Some of the statements made in this release are forward-looking statements that involve risks and uncertainties, which may prevent expected future results from being achieved. For those statements, Clairvest claim the protection of the safe harbour for forward-looking statements contained in the Canadian and U.S. securities laws. Clairvest cautions that actual future performance could be affected by a number of factors, including technological change, regulatory change and competitive factors, many of which are beyond Clairvest's control. Therefore, future events and results may vary substantially from what Clairvest currently foresees.

Contact Information

  • Clairvest Group Inc.
    Cameron Williamson
    CFO and Corporate Secretary
    (416) 925-9270
    (416) 925-5753 (FAX)