Clairvest Group Inc.

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Seasoned  Board  of  Directors  •  Clairvest  Group  was  founded  in  1987  “by  entrepreneurs  for  entrepreneurs”  

•  39  investments  to  date  

•  Co-­‐CEOs  lead  the  firm  for  19  years    

•  Management  team  together  for  11  years  

•  Clairvest  Group   is   listed  on   the   Toronto  Stock  Exchange  (TSX:  CVG)  

•  Clairvest   is  owned  88%  by   its  board  and  management  

•  We  invest  our  own  money,  at   least  25%  of  each  fund  comes  from  Clairvest  

  *  Companies  that  members  of  Clairvest  board  led    

Clairvest - Distinguishing Characteristics

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Our  DisUnguishing  CharacterisUcs  

Ownership  Flexibility  

•   We  do  not  insist  on  a  control  posiUon  •   We  back  in  place  owner-­‐operators  

PaUent    Growth  Capital  

•   We  provide  capital  to  facilitate  growth  •   We  hold  our  investments  longer  to  build  leading  businesses  •   We  focus  on  value  creaUon  as  opposed  to  financial  engineering  

AcquisiUon  Experience  

•   We  have  supported  15  regional  consolidaUon  strategies  •   We  assisted  por[olio  companies  with  over  195  acquisiUons  

Industry    Focused  

•   We  dedicate  substanUal  resources  to  our  chosen  domains  

Alignment  of  Interest  

•   We  invest  our  own  money;  at  least  25%  of  each  fund  from  CVG  •   Over  88%  of  Clairvest  owned  by  management  and  the  board  

Private Equity Landscape

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Private  Equity  

Venture  Capital  

Angel/Seed   Startup  

1st  –  3rd  stage   Bridge  

Late  Stage  

Growth   Turnaround  

MBO   LBO  

What Clairvest Is Looking For

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ü  Proven & Invested Management Team ü  CEO Who Seeks to Deepen and Complement Team ü  Stable Revenue and Distributed Customer Base ü  Well Positioned for Growth; for example:

•  Strong safety performance and culture •  Difficult to replicate assets •  Customer contracts

ü  Strong Unit Economics and Return on Capital ü  Deal Size That Fits Our Fund ü  Logical Path to Exit ü  Contingency Planning

Being Prepared

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Financial   Legal   Corp.  Governance  

•  Audited  F/S  •  Regular  KPI  ReporUng  •  Detailed  budgets/  5  years  forecast  

•  Ideally,  scalable  IT  systems  for  operaUons  and  financial  reporUng  

•  IncorporaUon  Docs.  •  Business  licences  •  Supply  contracts  • Major  customer  agreements  

•  Regulatory  approvals  •  Employee  agreements  (especially  senior  staff)  

•  Patents  

•  Documented  policies  for:  Ø Bonuses  Ø Benefits  Ø Pension  plans  Ø Safety  

•  Board  of  directors/  advisors