Press release from Marketwire
Clairvest Announces $15.0 Million Investment in Cieslok Media
Friday, September 27, 2013
Clairvest Announces $15.0 Million Investment in Cieslok Media17:08 EDT Friday, September 27, 2013
TORONTO, ONTARIO--(Marketwired - Sept. 27, 2013) - Clairvest Group Inc. (TSX:CVG) ("Clairvest") today announced that it and limited partnerships controlled by it made a $15.0 million investment in Cieslok Media, formerly Titan Outdoor Canada Company.
Cieslok Media is a leading Canadian outdoor advertising firm, operating predominantly large format digital and static billboards throughout major cities in Canada. The company is led by esteemed entrepreneur Jörg Cieslok, who over the last 24 years played a major role in shaping the landscape of outdoor advertising in Canada. Clairvest's portion of the investment is $4.0 million.
"When looking to make an investment in our chosen domains, our goal is to find the right partner. In addition to entering an attractive and growing market, we are investing alongside Mr. Cieslok, a proven industry visionary and executer with deep experience in the outdoor advertising market in Canada. We believe Cieslok Media is a highly attractive company and look forward to supporting its growth in the coming years," said Mitch Green, Managing Director at Clairvest.
"Cieslok Media is about to embark upon an exciting growth trajectory and we require an active partner who supports our vision. Clairvest brings much more than capital to this deal. It shares our enthusiasm towards the future and will be a valuable resource to me and my team," added Jörg Cieslok, CEO.
Cieslok Media is Clairvest's 42nd platform investment and the 9th investment by CEP IV. The Clairvest/CEP IV co-investment pool is capitalized at $467 million and focuses on equity investments in growth companies.
Clairvest Group Inc. is a private equity management firm 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 FURTHER INFORMATION PLEASE CONTACT:
Clairvest Group Inc.
Director, Investor Relations and Marketing
(416) 925-5753 (FAX)