TORONTO, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) (“Clairvest”) today announced that it, together with limited partnerships controlled by it, made a growth equity investment in Meriplex Communications, Ltd. (“Meriplex” or the “Company”). Clairvest partnered with the existing management team who will retain the majority of their equity in the business.
Meriplex is a leading Managed Solutions Provider based in Houston, Texas. The Company designs, implements and manages Intelligent Network Solutions powered by best in class technologies for business customers throughout the United States. Meriplex was co-founded by David Henley, Chief Executive Officer, who is a significant shareholder alongside Clairvest. The opportunity was originated through Clairvest’s domain work in the IT Services sector.
“We gained familiarity with Managed Solutions through our previous investments in IT Services and are excited about the opportunity for Meriplex to capitalize on new technologies that improve the customer experience. We believe David and his team are well positioned to accelerate the growth of Meriplex with additional investments,” said Mitch Green, Managing Director of Clairvest.
“Clairvest is an ideal partner to help us continue to grow. We sought to find a supportive partner to provide capital and expertise to fuel our network and customer expansion and we have found just that in Clairvest,” said David Henley.
Meriplex is Clairvest’s 51st platform investment and the seventh investment by CEP V. The Clairvest / CEP V co-investment pool is capitalized at $600 million and focuses on equity investments in growth companies.
About Clairvest
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners 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.
About Meriplex Communications
Meriplex Communications is a managed solutions provider specializing in delivering intelligent network solutions, cloud enablement and managed services for the mid-enterprise market, Meriplex develops lasting customer relationships by demonstrating positive attitudes in providing creative, reliable, and personalized solutions.
Clairvest Contact Information
Maria Shkolnik
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270 | Fax: (416) 925-5753
marias@clairvest.com