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Slide #14. TerraVest Capital Inc. — Clarke Inc. commercial tank and home heating business
TerraVest Capital Inc.
Clarke Inc. commercial tank and home heating business (TSE:CKI.CA)
Clarke Inc. ("Clarke") (TSX: CKI, CKI.DB.A) is pleased to announce that it has entered into a definitive agreement to sell its commercial tank and home heating business ("Gestion Jerico") to TerraVest Capital Inc. ("TerraVest"). The transaction values Gestion Jerico at an enterprise value of $54.0 million. Clarke will receive $24.9mn for its 75% interest in Gestion Jerico in the form of a 6.5% promissory note with a 3-year term.