MAG Defense Services secures US$7 million investment from Clairvest Group

Thu Jul 25 2013, 12:32 PM

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 INFORMATION

Deal Status: Completed

Announced date: 31/3/2013

Completed date: 31/3/2013

COMPANIES

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