Canada’s Venture Capital and Private Equity Association (CVCA) has named two winners for its 2013 Deal of the Year Award for the private equity category: the Ontario Teachers’ Pension Plan and Clairvest Group.
Teachers’ received the award for its investment in Maple Leaf Sports and Entertainment (MLSE) and Clairvest for its investment in PEER 1, an IT hosting provider.
Over the life of its investment, Teachers’ realized $1.21 billion in total proceeds, generating $977 million of profits and an internal rate of return of 16%, representing 5.3 times the total invested capital.
In August 2012, the plan sold MLSE to Bell and Rogers Communications, the parent company of Benefits Canada.
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Clairvest invested in PEER 1 Hosting in August 2009 and announced the sale of the company to Cogeco Cable three years later.
The private equity firm realized more than $81 million of total proceeds when those shares were bought by Cogeco, generating an internal rate of return of 40%, representing 3.2 times the original investment.