CHANDLER, Ariz., Feb. 6, 2023
/PRNewswire/ -- NovaSource Power Services ("NovaSource"), a global
leader in solar operations and maintenance ("O&M") services and
a portfolio company of Clairvest Group Inc. ("Clairvest", TSX: CVG)
and OMERS Private Equity, the private equity arm of OMERS, is proud
to announce the appointment of Bill
Morneau as the new chairman of the Board of Directors of
NovaSource. Mr. Morneau, a prominent Canadian business leader,
entrepreneur, and former Minister of Finance, brings a wealth of
experience and knowledge to the NovaSource team.
"I am excited to be joining the Board of Directors of NovaSource
and to be a part of NovaSource's mission to transition the world to
a more sustainable future," said Mr. Morneau. "As someone who has
dedicated my career to promoting sustainable economic growth, I
believe that NovaSource is at the forefront of the renewable energy
industry, with a proven track record of delivering high-quality and
cost-effective services to customers around the world with over 21
GW of solar assets under management. I look forward to working with
the team to continue making a positive impact on the environment in
this new role."
Mr. Morneau is a valuable addition to the NovaSource board,
combining significant experience in both industry and government.
Mr. Morneau's experience includes serving as Canada's Minister of Finance and a Member of
Parliament from 2015 to 2020, where he played a key role in
implementing policies to promote sustainable economic growth and
address climate change. From 1997 to 2015, Mr. Morneau served
as the Chair and CEO of Morneau
Shepell (now LifeWorks). In that role, Mr. Morneau led the
company to become the largest human resource services organization
in Canada and took the company
public on the Toronto Stock Exchange in 2005.
With respect to Mr. Morneau's new role with the company,
Troy Lauterbach, CEO of NovaSource,
noted that "NovaSource is honored to have someone with Bill's
background and experience join our team. Not only is he an
accomplished businessman and leader, but he also has a deep
understanding of the economic and financial aspect of the renewable
energy industry. His leadership and insight will be
invaluable to our company and our customers as we continue to grow
and expand our solar operations and maintenance services."
Mr. Morneau's new role is effective as of January 30, 2023.
About NovaSource Power
Services
NovaSource Power Services, a portfolio company of Clairvest
Group Inc. ("Clairvest", TSX: CVG) and OMERS Private Equity, the
private equity arm of OMERS, is a global O&M services provider
for renewable energy assets. NovaSource seeks to maintain a
world-class culture of safety and integrity, while developing
lasting partnerships with our customers and team members. As an
independent, O&M-focused company, NovaSource is poised to offer
even greater value in the design, maintenance, and management of
our customers' projects. More information is available at
www.novasourcepower.com.
About Clairvest
Clairvest's mission is to partner with entrepreneurs to help
them build strategically significant businesses. Founded in 1987 by
a group of successful Canadian entrepreneurs, Clairvest is a top
performing private equity management firm with over CAD
$3.2 billion of capital under
management. Clairvest invests its own capital and that of third
parties through the Clairvest Equity Partners limited partnerships
in owner-led businesses. Under the current management team,
Clairvest has initiated investments in 59 different platform
companies and generated top quartile performance over an extended
period.
About OMERS Private
Equity
OMERS Private Equity manages investments globally on behalf of
OMERS, one of Canada's largest
defined benefit pension plans, with C$121
billion in net assets as of December
31, 2021, including approximately C$19.6 billion in net private equity investment
asset exposure. With teams in New
York, London, Toronto and Singapore, OMERS Private Equity invests across
Industrials, Healthcare, Business Services and Technology,
deploying an evergreen capital base to partner with strong
management teams and transform good companies into industry leaders
around the globe. www.omersprivateequity.com
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SOURCE NovaSource Power Services
