CLAIRVEST BACKS MANAGEMENT TO ACQUIRE KUBRA DATA TRANSFER LIMITED
August 15, 2006 – Clairvest acquired an interest in KUBRA Data Transfer Limited (“KUBRA”) in support of a management buyout. KUBRA provides leading-edge customer communication management solutions and is an innovator in electronic bill presentment and payments.
Clairvest supported a management buyout of KUBRA from Tim Conroy and other shareholders. Mr. Conroy, who founded KUBRA in 1992, will retire from the company to focus on other interests.
KUBRA is the inaugural investment by CEP III, the second closing of which was announced on May 19, 2006. The Clairvest/CEP III co-investment pool is capitalized at up to $300 million and aims to make equity placements in the same manner as its predecessor, Clairvest Equity Partners Limited Partnership.