Canadian private equity firm Clairvest Group has introduced changes to its top leadership. Co-CEO and Managing Director Jeff Parr will transition to vice chairman and managing director, while Managing Director Michael Wagman will become president and managing director. Wagman will also join Clairvest’s board. Ken Rotman will continue to lead the firm as CEO and managing director. Rotman and Parr co-led Clairvest for 22 years. Founded in 1987, the Toronto-based firm has under its current management team invested $1 billion in 42 mid-market companies.
Clairvest Announces Changes to Senior Management Team
Toronto, Ontario (December 12, 2017) – Clairvest Group Inc. (TSX: CVG) (“Clairvest”) today announced the following changes to its senior management team, effective January 1, 2018: (i) B. Jeffrey Parr, currently Co-Chief Executive Officer and Managing Director, will transition to Vice Chairman & Managing Director, and (ii) Michael Wagman, currently Managing Director, will become President & Managing Director and join the Clairvest Board of Directors.
Kenneth B. Rotman will continue to lead Clairvest as Chief Executive Officer and Managing Director.
Mr. Rotman remarked, “I feel privileged to have worked with Jeff side by side for 22 years. I am delighted for our team and shareholders that we will be able to continue to work with Jeff going forward in his new role.”
Joseph J. Heffernan, Chairman of the Clairvest Board of Directors, added, “Jeff has been an indispensable member of the Clairvest leadership team and Board of Directors and the Board is pleased to recognize this contribution by having him assume the Vice Chairman role.”
Mr. Rotman commented, with respect to the promotion of Mr. Wagman, that “Michael’s development over his 19-year career at Clairvest has been remarkable. This promotion is well deserved and will be great for the company as Michael continues to create value.” Mr. Heffernan added, “The Board of Directors congratulates Michael on his new appointment and looks forward to working with him in the coming years as a board member.”
Clairvest Group Inc. is a private equity investor which invests its own capital, and that of third parties through the Clairvest Equity Partners (“CEP”) 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:
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
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