DEAL IN BRIEF
MAG Defense Services LLC, a US-based provider of outsourced specialty aviation and intelligence, surveillance and reconnaissance services for the defense industry, has secured an investment of US$7 million from Clairvest Group Inc. along with its funds Clairvest Equity Partners IV-A Limited Partnership and Clairvest Equity Partners IV, L.P.
Clairvest Group is a Canadian private equity firm and its portion of the investment was US$1.9 million for an 8% ownership interest.
Pursuant to the transaction, Clairvest Group along with its funds will own a 30% stake in MAG Defense. .
Deal Type: Private Equity
Sub-Category: Direct Investment
Deal Status: Completed
Announced date: 31/3/2013
Completed date: 31/3/2013
Investor Company: Clairvest Group Inc.
Investor Company: Clairvest Equity Partners IV-A Limited Partnership
Investor Company: Clairvest Equity Partners IV, L.P.
Target Company: MAG Defense Services LLC
Deal Rationale Type: Capital raising for business expansion
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