Clairvest Reports Fiscal 2027 First Quarter Results
TORONTO, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) today reported results for the fiscal 2027 first quarter ended June 30, 2026 and events which occurred subsequent to quarter end. (All figures are in Canadian dollars unless otherwise stated)
Highlights
- June 30, 2026 book value was $1.328 billion or $99.26 per share compared with $1.293 billion or $96.60 per share as at March 31, 2026, up 3.8% in the quarter inclusive of the dividends accrued and paid subsequent to quarter end
- Net income for the quarter ended June 30, 2026 was $48.4 million or $3.61 per share
- During the quarter, Clairvest and Clairvest Equity Partners VI (“CEP VI”) completed the sale of their interest in Star Waste Systems, LLC (“Star Waste”), realizing total proceeds of US$138.6 million, or a 2.6x multiple on invested capital
- Also during the quarter, Clairvest and Clairvest Equity Partners VII (“CEP VII”) completed three new investments for total investments of $216 million. Two additional new investments totalling $73 million were completed subsequent to quarter end. Clairvest’s portion of these investments were $59 million during the quarter and $18 million subsequent to quarter end respectively
- Subsequent to quarter end, Clairvest paid $0.9660 per share in dividends
Clairvest’s book value was $1.328 billion or $99.26 per share as at June 30, 2026, compared with $1.293 billion or $96.60 per share as at March 31, 2026. For the quarter ended June 30, 2026, Clairvest recorded net income of $48.4 million, or $3.61 per share, which was driven by a net increase in the valuation of Clairvest’s private equity investment portfolio. The book value as at June 30, 2026 is net of the $0.9660 per share dividend which was accrued for the quarter ended June 30, 2026 and paid subsequent to quarter end as described below. Also during the quarter, Clairvest purchased and cancelled 8,000 common shares at an average price of $76.00/share, or a total cost of $0.6 million.
As at June 30, 2026, cash, cash equivalents and temporary investments excluding marketable securities, as reported under IFRS, were $286 million. In addition, our acquisition entities held $120 million in cash, cash equivalents and temporary investments as at June 30, 2026 bringing total available cash to $406 million. In aggregate, this represented 30.6% of our book value as at June 30, 2026, or approximately $30.35 per share.
During the quarter ended June 30, 2026, Clairvest and CEP VII invested $216 million in three new deals, Clairvest’s portion of which was $58.6 million. One investment was in the gaming domain, one in experience economy and the third one in environmental services. Subsequent to quarter end, two additional new investments were completed for total investments of $73 million, Clairvest’s portion of which was $18 million. The two new investments made subsequent to quarter end were in food and beverage and medical practice management domains respectively. As at the date of this press release, the CEP VII fund, since the commencement of its investment program in 2024, has made 8 investments in total and is at 35% invested.
“It was a busy and productive quarter for our team. In addition to closing on the previously announced acquisition of Northfield Park, we added two other investments to the CEP VII portfolio, in each case backing accomplished entrepreneurs who have invested alongside us and are fully committed to what we're building together. One of these businesses, our 11th in environmental services, reflects the depth of experience we’ve built in a sector we know intimately. The other is our first step into luxury experiential travel, a new domain we entered after months of effort that led us to a company which fits nicely with our investment thesis,” said Ken Rotman, CEO of Clairvest. “With two additional investments completed since quarter-end, we carry strong momentum into the rest of the year as we continue building out the Clairvest Equity Partners VII portfolio.”
Also subsequent to quarter end, Clairvest paid an annual ordinary dividend of $0.10 per share and a special dividend of $0.8660 per share, such that in aggregate, the dividends represent 1% of the March 31, 2026 book value. Both dividends were paid on July 24, 2026 to common shareholders of record as at July 3, 2026 and are eligible dividends for Canadian income tax purposes.
| Summary of Financial Results – Unaudited | ||
| Financial Results(1) | Quarter ended | |
| June 30 | ||
| 2026 | 2025 | |
| ($000’s, except per share amounts) | $ | $ |
| Net investment gain | 55,760 | 35,982 |
| Net carried interest from Clairvest Equity Partners IV | (4,719) | (595) |
| Distributions, interest income, dividends and fees | 23,224 | 13,463 |
| Total expenses, excluding income taxes | 19,698 | 24,998 |
| Net income and comprehensive income | 48,362 | 21,336 |
| Basic and fully diluted net income per share | 3.61 | 1.51 |
| Financial Position | June 30 | March 31 |
| 2026 | 2026 | |
| ($000’s, except share information and per share amounts) | $ | $ |
| Total assets | 1,551,547 | 1,479,834 |
| Total cash, cash equivalents, and temporary investments | 368,673 | 324,881 |
| Carried interest from Clairvest Equity Partners IV | 37,225 | 41,944 |
| Corporate investments(1) | 1,011,656 | 952,179 |
| Total liabilities | 223,290 | 186,405 |
| Management participation from Clairvest Equity Partners IV | 31,609 | 34,289 |
| Book value(2) | 1,328,257 | 1,293,429 |
| Common shares outstanding | 13,380,931 | 13,388,931 |
| Book value per share(2) | 99.26 | 96.60 |
(1) Includes carried interest of $232,234 (March 31: $211,627) and management participation of $166,616 (March 31: $152,064) from Clairvest Equity Partners V, VI and VII, and $128,682 (March 31: $143,471) in cash, cash equivalents and temporary investments held by Clairvest’s acquisition entities.
(2) Book value is a Non-IFRS measure calculated as the value of total assets less the value of total liabilities.
Clairvest’s first quarter fiscal 2027 financial statements and MD&A are available on the SEDAR website at www.sedar.com and the Clairvest website at www.clairvest.com.
About Clairvest
Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $4.6 billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 74 different platform companies and generated top quartile performance over an extended period.
Contact Information
Stephanie Lo
Director of Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
stephaniel@clairvest.com
Forward-looking Statements
This news release contains forward-looking statements with respect to Clairvest Group Inc., its subsidiaries, its CEP limited partnerships and their investments. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clairvest, its subsidiaries, its CEP limited partnerships and their investments to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general and economic business conditions and regulatory risks. 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.
