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February 21, 2023

Clairvest Re-Enters Life Sciences Industry with Investment in Boca Biolistics

Toronto, Ontario (February 21, 2023) – Clairvest Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with Clairvest Equity Partners VI (“CEP VI”, collectively “Clairvest”) has made a US$25 million equity investment in Boca Biolistics (“Boca” or the “Company”), partnering with its management team for the next phase of growth.

Founded in 2007, Boca Biolistics is a leading clinical research organization and biomaterials company focused on the procurement, storage, and sale of human biological samples (specializing in infectious diseases and oncology) used for clinical trials and diagnostic development. Boca has a strong reputation as a trusted vendor in the industry and sources samples from its proprietary network of collection sites internationally. The Company also offers in-house analytical laboratory testing and characterization services for internal and third-party samples. Going forward, Boca will be led by two of its founders, Valentin Adia (CEO) and Michael Morris (COO), both of whom have rolled a significant portion of their equity alongside Clairvest. Boca Biolistics represents Clairvest’s second investment in the life sciences domain.

“Our investment in Boca is the result of a multi-year domain effort in the life sciences industry and represents a compelling opportunity to back an entrepreneurial management team. Boca plays an important role in advancing the development of novel pharmaceutical drugs and diagnostic devices and we are delighted to partner with Valentin and Michael,” said Sebastien Dhonte, Managing Director of Clairvest.

“We chose to partner with Clairvest because we believe in their partnership-oriented investment style and their ability to help us accelerate our growth over the coming years. We are excited to build on Boca Biolistics’ track record as a leading provider of biosamples and support important biopharma and diagnostic research & development efforts,” said Valentin Adia, CEO of Boca Biolistics.

The Boca Biolistics investment is Clairvest’s 60th platform investment and 9th investment in the Clairvest / CEP VI co-investment pool which is capitalized at US$850 million.