Clairvest Group has sold its minority stake in Van-Rob, a Tier One supplier to automobile manufacturers, to Kirchhoff Automotive for CAD35 million. Van-Rob designs and manufactures metal stampings, modular welded assemblies, structural welded assemblies, mechanical assemblies and heat shields for thermal applications. Clairvest invested CAD20 million in the company in 2002.
Since the beginning of 2008, PE investors have exited 50 Transportation-related companies, according to the PitchBook Platform. 2010 was a fruitful year for those seeking liquidity in the Transportation industry as PE investors completed 27 exits, up from 15 in 2008 and 8 in 2009. The majority, 56%, of the exits during the time period occurred through sales to corporations. Sales to other PE investors was the second most popular exit method, accounting for 40% of the exit activity, and while many PE investors realized their Transportation investments, several also made new ones. In 2010 alone, 54 PE investors invested in the industry. The most active included American Industrial Partners (5 deals), Investcorp (5) and H.I.G. Capital (4).