Clairvest Group Inc.

July 04, 2008 09:05 ET

Kenro Capital Inc. and 1235825 Ontario Ltd. Acquire Shares of Clairvest Group Inc.

TORONTO, ONTARIO--(Marketwire - July 4, 2008) - Kenro Capital Inc. ("Kenro") and 1235825 Ontario Ltd. ("1235825") announced today that on July 3, 2008 they acquired 103,000 and 86,000 common shares of Clairvest Group Inc. (TSX:CVG) ("Common Shares"), respectively. The Common Shares acquired represent 0.646% and 0.539% of the Common Shares, respectively, and were purchased for $15.36 per share.

Kenro currently owns 2,618,000 Common Shares representing 16.4% of the Common Shares and 1235825 currently owns 2,271,000 Common Shares representing 14.2% of the Common Shares. Kenneth B. Rotman controls 1235825. Kenneth B. Rotman also holds 25,000 Common Shares personally. Kenneth B. Rotman is the beneficiary of a family trust which controls Kenro. 1235825, Kenro and Kenneth B. Rotman personally collectively own 4,914,000 Common Shares representing 30.8% of the Common Shares.

The purchases were effected by private agreement. Kenro acquired the Common Shares from a single seller while 1235825 acquired the Common Shares from that same seller as well as from a company beneficially owned by that seller and members of his family.

The acquisition of the Common Shares was made for investment purposes only. Kenro and 1235825 may, subject to market conditions and in accordance with applicable securities laws, take other actions in respect of its investment in Clairvest, including making additional investments in or effecting dispositions of securities of Clairvest, including additional purchases of Common Shares.

An early warning report respecting these purchases will be filed and may be obtained from Heather Crawford, 22 St. Clair Avenue East, Suite 1701, Toronto, Ontario, M4T 2S3, Telephone: (416) 413-6030.

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.

Contact Information

  • Clairvest Group Inc.
    Lana Reiken
    Chief Financial Officer and Corporate Secretary
    (416) 925-9270
    (416) 925-5753 (FAX)