Date: March 1, 2010
Source: Clairvest Group Inc.
Clairvest Group Inc. (TSX: CVG) ("Clairvest") and Clairvest Equity Partners III Limited Partnership ("CEP III") today announced a combined US$35.25 million investment in Hudson Valley Waste Holding, Inc. ("Hudson Valley"). Hudson Valley is a leading regional solid waste company which collects, processes and recycles nonhazardous solid waste in the northeastern United States.
"After our successful exit from Winters Bros. Waste Systems Inc. in 2007, we continued to pursue domain research and networking in the waste management and environmental service sectors. We are very pleased that this effort has led to a second investment in the waste management industry," said Ken Rotman, Co-CEO and Managing Director of Clairvest. Hudson Valley is Clairvest's 32nd platform investment and the eighth investment by CEP III. The Clairvest/CEP III co-investment pool is capitalized at $300 million and makes equity investments in growth companies.
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Clairvest is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
Clairvest Group Inc. is a Canadian merchant bank that 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.
For more information, please contact
Clairvest Group Inc.
Director, Investor Relations and Marketing
(416) 925-5753 (FAX)