Hi Pat: I currently hold shares in Clairvest Group, which I have held for over 10 years. It has survived the downturns rather well. I wonder what you think of this stock.
Clairvest Group, $12.30, symbol CVG on Toronto, (Shares outstanding: 16.0 million; Market cap: $196.2 million) is a Toronto-based merchant bank that invests in both public and private corporations. It also provides investment advice.
The company invests its own funds and those of third-party investors through three subsidiaries: Clairvest Equity Partners Limited Partnership, Clairvest Equity Partners III LP and Clairvest Equity Partners IV LP. Clairvest earns income from investments and management fees.
Clairvest Group was founded in 1987 by Joseph Rotman. At the time, the company was known as Roy-L Merchant Group. It became the Clairvest Group in 1991. The company’s board of directors includes Isadore Sharp, founder of Four Seasons Hotels, Michael Bregman, founder of the Second Cup coffee chain and Joseph Heffernan, former chairman of Rothmans.
The company mainly invests in businesses with broad customer bases, recurring revenues, and cost-cutting potential. It also looks for companies in fragmented but growing industries.
Throughout its history, the company has invested in a number…
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