Clairvest Investment Novasource Signs Agreement To Acquire First Solar’s North American O&M Business
Toronto, Ontario (August 6, 2020) – Clairvest Group Inc. (TSX: CVG) today announced that NovaSource Power Services (“NovaSource” or “the Company”), a portfolio company of Clairvest Group Inc. and Clairvest Equity Partners VI (together, “Clairvest”), entered into an agreement with First Solar, Inc. (NASDAQ: FSLR) to acquire First Solar’s North American operations and maintenance business. The transaction will be funded through a combination of third-party term debt and equity from Clairvest. The proposed transaction is subject to customary closing conditions, including obtaining various consents and regulatory approvals. There can be no assurance that the transaction will be consummated.