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Clearview scores 68 per cent IRR from EN Engineering sale

2 May 2012

Clearview Capital has made a 4.5 times return by selling EN Engineering to CIVC Partners three years after buying the company.

The firm made an IRR of 68 per cent by exiting the company, which provides engineering, advice and support services for the natural gas, liquid petroleum and related industries.

Clearview made the investment through its second buyout fund, which closed $50m over its $200m target in 2008.

The fund, which focuses on developing mid-market companies with cash flows of between $4m and $20m, received capital from accounts managed by investors including Credit Suisse, RCP Advisors, and National City Equity Partners.

Clearview co-managing partner James Anderson said, “Throughout the period of our ownership of ENE the company’s management team did a terrific job building the business organically and through acquisition.

“ENE is a world-class business and we are proud to have had the opportunity to partner with its management team and help the company through a phase of rapid growth.”

Clearview also has holdings in professional services firm GCR, paediatric care centre operator Child Health and plastic sheet manufacturer Rowmark.

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