TORONTO, Sept. 21, 2022 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) (“CVG”) at present introduced that it, along with Clairvest Fairness Companions VI (“CEP VI”, collectively “Clairvest”) made a C$100 million minority fairness funding to help the merger and recapitalization of Alberta-based Rogers Insurance coverage and British Columbia-based CapriCMW Insurance coverage Providers Ltd. (“CapriCMW”). Submit-close, the mixed entity operates as Acera Insurance coverage Providers Ltd. (“Acera Insurance coverage” or the “Firm”).
Acera Insurance coverage is likely one of the largest employee-controlled property & casualty and group advantages insurance coverage brokerages in Canada, with places of work situated in Alberta, British Columbia, Ontario and Yukon. The Firm stays unbiased and proudly 100% Canadian-owned. Each Rogers Insurance coverage and CapriCMW had been based over 45 years in the past and have demonstrated a confirmed monitor file of success within the business. Acera Insurance coverage is led by CEO Lee Rogers, Chairman and President Andrew Kemp and COO Bruce Rabik.
The chance was originated by Clairvest’s area work within the insurance coverage business. “Our area outreach created this distinctive alternative. We’re totally impressed by the management groups at Rogers Insurance today techs coverage and CapriCMW who’ve an extended historical past of collaborating to drive progress organically and thru acquisitions. We’re thrilled to help the 1,000 workers and over 350 shareholder companions of Acera Insurance coverage by the following part of progress by investing in folks, expertise and acquisitions to additional improve the Firm’s capabilities,” stated Mitch Inexperienced, Managing Director of Clairvest.
“Clairvest’s partnership model and tradition are an awesome match with Acera Insurance coverage. We see today techs them as a super accomplice as they convey a wealth of business information and expertise serving to entrepreneurs construct nice companies. Their funding will present us with each the monetary flexibility and sources to gasoline the Firm’s thrilling progress initiatives,” stated Lee Rogers, CEO of Acera Insurance coverage.
“The merger and today techs recapitalization supported by Clairvest will speed up our investments in folks, processes, and expertise. Our purpose is to develop into the today techs unbiased Canadian insurance coverage brokerage of selection for shoppers, carriers and workers. I’m delighted to work alongside Lee and Bruce to construct a platform of strategic significance,” stated Andrew Kemp, Chairman and President of Acera Insurance coverage.
The merger was supported by credit score amenities organized by the Royal Financial institution of Canada and Financial institution of Montreal.
The Clairvest / CEP today techs VI co-investment pool is capitalized at US$850 million and focuses on fairness investments in progress firms.
Clairvest’s mission is to accomplice with entrepreneurs to assist them construct strategically vital companies. Based in 1987 by a gaggle of profitable Canadian entrepreneurs, Clairvest is a prime performing personal fairness administration agency with over CAD $3.2 billion of capital below administration. Clairvest invests its personal capital and that of third events by the Clairvest Fairness Companions restricted partnerships in owner-led companies. Below the present administration workforce, Clairvest has initiated investments in 59 totally different platform firms and generated prime quartile efficiency over an prolonged interval.
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