Date: September 4, 2007
Source: Clairvest Group Inc.
Clairvest to Realize Close to Four Times Its Capital on Its 15 Month Investment in Winters Bros.
Toronto, Ontario (September 4, 2007) – Clairvest Group Inc. (TSX: CVG) today announced the sale of Winters Bros. Waste Systems Inc. to IESI Corporation, a subsidiary of BFI Canada Income Fund.
Winters Bros. is the leading integrated non-hazardous solid waste services provider based on Long Island, New York. The firm operates eight transfer stations and extensive collection operations.
In June 2006, Clairvest and a partnership managed by Clairvest invested US$15.7 million for a 36% share of Winters Bros. Under terms of the deal, IESI will pay a total of US$263 million for Winters Bros. Gross sale proceeds at closing received by Clairvest and its related partnership amount to US$51.7 million which equates to 3.3 times invested capital over the 15-month duration of the investment.
For more information, visit: www.clairvest.com.
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