Gryphon Investors Completes Majority Investment in Right Time Heating and Air Conditioning
Identifies Strong Growth Path & Large Market Opportunity for Canada s Leading Residential HVAC Installer
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SAN FRANCISCO, Dec. 30, 2020 /PRNewswire/ Gryphon Investors ( Gryphon ), a leading middle-market private equity firm, today announced that it has acquired Right Time Heating and Air Conditioning ( Right Time or the Company ) from Clairvest Group Inc., a Canadian private equity firm. Right Time s management will remain with the Company and retain a significant equity stake. Financial terms of the transaction were not disclosed.
Founded in 2014 and headquartered in St. Catharines, Ontario, Right Time is the largest independently owned residential HVAC services provider in Canada with a focus on
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TORONTO, Dec. 30, 2020 (GLOBE NEWSWIRE) Clairvest Group Inc. (TSX: CVG) (“CVG”), today announced that it and Clairvest Equity Partner V (collectively, “Clairvest”) completed the sale of their shares in Right Time Heating and Air Conditioning (“Right Time” or the “Company”) to Gryphon Investors.
Right Time is the largest independently owned heating, ventilation and air-conditioning (“HVAC”) contractor in Canada focused on the residential replacement market. Right Time provides preventative maintenance programs, repairs, and replacements of household HVAC units. In November 2018, Clairvest partnered with the two co-founders of Right Time to embark on a new growth chapter. Since partnering with Clairvest in late 2018, Right Time successfully executed upon three add-on acquisitions, enhanced its online customer acquisition strategy, and continued to build out its executive leadership team. The Company now operates out of eleven locations across thr