Discovery Air and Clairvest complete going private transaction

On May 26, 2017, Discovery Air Inc. ("Discovery Air") and Clairvest Group Inc. ("Clairvest") announced the closing of the previously announced statutory plan of arrangement under section 192 of the Canada Business Corporations Act, pursuant to which, among other things, all of the common shares of Discovery Air were acquired by 10123200 Canada Inc., a wholly owned subsidiary of an investment fund managed by Clairvest.

The arrangement, which was announced on March 24, 2017, was approved by Discovery Air shareholders at the special meeting held on May 23, 2017, and by the Ontario Superior Court of Justice (Commercial List) on May 24, 2017.

Discovery Air is a global leader in specialty aviation services.

Clairvest Group is a private equity investor which invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns.

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