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TORONTO, June 24, 2026 (GLOBE NEWSWIRE) — Clairvest Group Inc. (TSX: CVG) today reported results for the fourth quarter and year ended March 31, 2026 and events which occurred subsequent to year end. (All figures are in Canadian dollars unless otherwise stated)
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- March 31, 2026 book value was $1.293 billion or $96.60 per share compared with $91.66 per share at December 31, 2025 and $88.30 per share at March 31, 2025. Inclusive of dividends, the growth in book value per share year over year was 10.5%
- Net income for the fourth quarter was $62.3 million or $4.56 per share (primarily attributable to investment realizations and fair value changes to the private equity investment portfolio)
- Net income for fiscal 2026 was $112 million or $8.04 per share. During fiscal 2026, Clairvest had an $72 million net investment gain, comprised of $55.8 million of net realized losses from four investments and $127.9 million of net unrealized investment gains on its remaining private equity portfolio. Excluding the realized loss related to Head Digital Works, which was previously announced in the second quarter of fiscal 2026, Clairvest had $64.8 million in realized gains from the realization of F12.net and Acera Insurance
- During the quarter, Clairvest and Clairvest Equity Partners VI (“CEP VI”) completed the sale of their interest in Acera Insurance, realizing total proceeds of $406.5 million, or a 3.0x multiple on invested capital
- Subsequent to year end, Clairvest and CEP VI completed the sale of their interest in Star Waste, realizing total proceeds of US$138.6 million, or a 2.6x multiple on invested capital
- Clairvest and Clairvest Equity Partners VII (“CEP VII”) entered into an agreement to acquire a gaming investment in Eastern United States
- In the first quarter of fiscal 2027, Clairvest and CEP VII completed three new investments totalling $271.2 million
- Clairvest declared an annual dividend of $1.3 million, or $0.10 per share, and a special dividend of $11.6 million, or $0.8660 per share, both payable on July 24, 2026
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Clairvest’s book value was $1.293 billion or $96.60 per share as at March 31, 2026, compared with $1.255 billion or $91.66 per share as at December 31, 2025 and $1.252 billion or $88.30 per share as at March 31 2025. For the year ended March 31, 2026, Clairvest invested a total of $73 million in new and follow-on investments and realized on four investments for total proceeds of $132 million. As at March 31, 2026, 30% of our book value, or approximately $29 per share, was held in cash, cash equivalents and temporary investments excluding marketable securities, including those held in our acquisition entities.
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Net income for the fourth quarter was $62.3 million, or $4.56 per share. The net income for the fourth quarter of fiscal 2026 reflects the gain on the sale of Star Waste which was completed subsequent to quarter end, a net increase in the fair value of Clairvest’s other portfolio companies and a corresponding increase in carried interest from the CEP Funds.
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Net income for the fiscal year was $112 million or $8.04 per share. During the fiscal year, Clairvest divested its investments in F12.net and Acera Insurance for realized gains of $64.8 million and realized its investment in Head Digital Works (for nil value) which had a carrying value of $127.8 million as at March 31, 2025, while the balance of the portfolio recognized net investment gains of $127.9 million, inclusive of foreign exchange revaluations.
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During the quarter, Clairvest and CEP VI completed the sale of their ownership interest in Acera Insurance for cash proceeds of $325 million in addition to an $81.5 million promissory note. Clairvest’s portion of the proceeds was $87.9 million in cash and $22.1 million of the promissory note. The transaction, inclusive of the principal value of the promissory note, generated a 3.0x multiple on invested capital.
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Also during the quarter, Clairvest and CEP VI agreed to the sale of Star Waste which was completed April 1, 2026. Clairvest and CEP VI received proceeds totalling US$138.6 million. Clairvest’s portion of the proceeds was US$37.5 million. The transaction generated a 2.6x multiple on invested capital. As at March 31, 2026, the investment in Star Waste is carried at the sale value.
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Also during the quarter, Clairvest and CEP VII entered into an agreement to acquire a gaming investment in Eastern United States. As at March 31, 2026, Clairvest and CEP VII deposited US$33 million into an escrow account prior to closing of the acquisition, which is subject to state and local regulatory and contractual approvals.
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