TORONTO, ONTARIO--(Marketwire - Feb. 25, 2011) - Clairvest Group Inc. (TSX:CVG) and Clairvest Equity Partners Limited Partnership ("CEP", collectively "Clairvest") announced today the sale of their combined interests in Van-Rob Inc. ("Van-Rob") to Kirchhoff Automotive GmbH ("Kirchhoff") for proceeds of C$35 million. Consistent with its ownership, Clairvest Group Inc. realized 25% of this amount, or $8.7 million, as compared to the December 31st carrying value of $4.4 million.
Forward-Looking Statements
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Clairvest is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
About Clairvest
Clairvest Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, 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.
Contact Information: Clairvest Group Inc.
Caroline Montminy
Director, Investor Relations and Marketing
(416) 925-9270
(416) 925-5753 (FAX)
carolinem@clairvest.com