Clairvest Completes Sale Of Signature Security To Australian Private Equity Firm
Toronto, Ontario (January 16, 2006) – Clairvest Group Inc. (TSX:CVG) today announced that it has completed the previously announced sale of its interest in Signature Security Group Holdings Pty Limited (“Signature”) as part of a sale of 100% of Signature to Allco Equity Partners, a leading Australian private equity firm.
Clairvest realized approximately its carrying value of $29.7 million for the investment. (All figures are in Canadian dollars unless otherwise stated).
Clairvest is a Canadian merchant bank that invests its own capital, and that of third parties through Clairvest Equity Partners Limited Partnership, in companies 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.
For further information, please contact:
Lana Reiken
Chief Financial Officer and Corporate Secretary
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
www.clairvest.com
This news release may contain forward-looking statements with respect to Clairvest Group Inc., its subsidiaries and their investments. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors such as the possibility of the transaction not concluding, foreign exchange risks and actual sale proceeds received which may cause the actual results, performance or achievements of Clairvest, its subsidiaries and their investments to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.