Clairvest completes sale of Acera Insurance shares

Executive Summary

• Clairvest Group Inc. announced the closing of its merger between Acera Insurance Services Ltd. and Navacord Corp.
• The transaction generated gross proceeds of approximately C$407 million (C$110 million attributable to Clairvest), paid 80% in cash and 20% via a promissory note payable over 24 months.
• The sale is expected to increase Clairvast’s book value per share by roughly $4.00 versus the September 30, 2025 carrying value.

Key Details

• Transaction Structure: Merger of Acera Insurance Services Ltd. with Navacord Corp.; Clairvest fully exited its investment in Acera as part of the deal.
• Proceeds: Total gross proceeds ≈ C$407 million; Clairvast’s share = C$110 million.
• Payment Terms: 80% cash, 20% promissory note with a 24‑month repayment schedule.
• Equity Roll‑Over: Acera’s CEO Lee Rogers, Chairman/EVP Andrew Kemp, the executive team and employee shareholders rolled a significant portion of their equity into the combined entity.
• Impact on Shareholders: Anticipated positive impact on Clairvest’s book value per share of approximately $4.00 relative to its September 30, 2025 carrying value.
• Strategic Rationale: Highlights the effectiveness of Clairvest’s minority investment approach and its long‑term performance record.

Notable Quotes

(No direct quotes were provided in the release.)