Toronto, Ontario (November 12, 2010) – Clairvest Group Inc. (TSX:CVG) and Clairvest Equity Partners IV Limited Partnership (collectively “Clairvest”) announced today the acquisition of US$79.0M in senior secured first lien debt (“Senior Debt”) of Centaur, LLC (“Centaur”).
As part of the transaction, Clairvest entered into an agreement with another holder of Senior Debt to vote together in furtherance of their mutual economic interests in the ongoing chapter 11 proceedings for Centaur. Centaur holds various gaming interests including the Hoosier Park Racing & Casino in Indianapolis, Indiana, one of two gaming facilities serving this 1.7 million person Indianapolis area market.
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.
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753