Source: Clairvest Group Inc.
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  • Clairvest Group (CVG) has sold its equity interest in DTG to a fund managed by Macquarie Asset Management
  • In connection with that transaction, Clairvest Group and a partnership managed by it, Clairvest Equity Partners V, as well as the shareholders of DTG Enterprises Holdings Inc., have completed a recapitalization of DTG
  • Upon closing, CVG’s portion of sale proceeds was approximately US$53.2 million.
  • Clairvest’s Clairvest Group Inc is a Canadian equity investment firm
  • Clairvest Group Inc. was down 1.014 per cent, trading at C$73.25 at 1:16 PM ET

Clairvest Group (CVG) has sold its equity interest in DTG to a fund managed by Macquarie Asset Management.

In connection with that transaction, Clairvest Group and a partnership managed by it, Clairvest Equity Partners V, as well as the shareholders of DTG Enterprises Holdings Inc., have completed a recapitalization of DTG.

DTG is Washington State’s leading independent vertically integrated non-MSW recycling business providing integrated recycling services for commercial, industrial, and construction customers.

Since its formation in 1999, DTG has grown from a single truck to a regional leader with an impressive network of collection assets, 12 materials recovery facilities (MRFs) across the Puget Sound region and one construction and demolition (C&D) landfill.

Upon closing, CVG’s portion of sale proceeds was approximately US$53.2 million. On a constant currency basis, the sale proceeds for CVG represent a multiple of capital invested of 6.2x and an IRR of 88 per cent.

“We are extremely proud of the results generated by our management partners – Dan Guimont and Tom Vaughn – and the entire DTG team,” noted Michael Castellarin, Managing Director at Clairvest.

“We are honoured to have been partners in DTG’s success since 2020, and we are excited for DTG to continue its growth in the evolving environmental services landscape in the Pacific Northwest,” said Michael Castellarin, Managing Director at Clairvest,” he added.

“Our initial vision in partnering with Clairvest was to become the largest non-MSW waste and recycling company in the greater Seattle region, and we have achieved what we set out to do,” said Dan Guimont, Founder & President of DTG.

Clairvest’s Clairvest Group Inc is a Canadian equity investment firm whose mission is to partner with entrepreneurs to help them build strategically significant businesses.

Clairvest Group Inc. was down 1.014 per cent, trading at C$73.25 at 1:16 PM ET.


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