Business
Clairvest to Exit Acera as part of Acera Merger with Navacord
TORONTO, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) (“CVG”),...
About this update from Clairvest Group Inc.
[{"type":"text","content":"Clairvest to Exit Acera as part of Acera Merger with Navacord\n\n\n\n TORONTO, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) (“CVG”), today announced that it, together with Clairvest Equity Partners VI (“CEP VI”, collectively “Clairvest”), has signed an agreement to sell its minority interest in Acera Insurance Services Ltd. (“Acera” or the “Company”) as part of Acera’s merger with Navacord Corp., one of Canada’s top commercial insurance brokerages. CEO Lee Rogers, Chairman/President Andrew Kemp, Acera’s executive team and Acera’s employee shareholders will be rolling a significant amount of their equity into the merged entity. Closing, which is expected in the first quarter of calendar 2026, is subject to achieving certain closing conditions, including regulatory, court and shareholder approvals.\n \n\n Acera was formed through the merger and recapitalization of Rogers Insurance and CapriCMW in September 2022. Today, Acera is one of Canada’s largest independent brokerages, with over 750 employee shareholders. The company provides property & casualty and group benefits insurance solutions to both commercial and personal clients. During Clairvest’s three-year partnership, Acera grew EBITDA by 70% and completed 24 tuck-in acquisitions.\n \n\n The sale is expected to have a positive impact on CVG’s book value of approximately $4.00 per share upon closing over the carrying value as at September 30, 2025.\n \n\n The proposed Acera-Navacord merger represents an excellent outcome for Navacord and Acera including their respective shareholders, employees and customers.\n \n\n “We are very proud of what has been accomplished over the past three years. From the outset, Lee and Andrew demonstrated exceptional partnership and commitment to building a high-performance organization. It has been a privilege to support them through this phase of Acera’s growth, and we are excited to see the company continue its success in its next chapter with Navacord. Clairvest remains a committed investor in the insurance sector, building on our track record of success with Shepell-fgi, Digital Media Solutions, and now Acera,” said Mitch Green, Managing Director of Clairvest.\n \n\n “Clairve...