Gryphon and Portfolio Company News
Right Time Group of Companies Acquires Comfort Masters
Company Continues Its Expansion Across Ontario
Right Time Group of Companies (“Right Time” or the “Company”) is pleased to announce the acquisition of Comfort Masters LTD. (“Comfort Masters”). Founded in 2005 by Brian and Mariachristina Ripchensky, Comfort Masters provides residential HVAC, air quality, and hot water services to the Oshawa, York, Durham, and Simcoe regions of Ontario. Management and employees of Comfort Masters will join the Right Time team and will benefit from Right Time’s management and training capabilities. Terms of the transaction were not disclosed.
Comfort Masters is the seventh acquisition completed by Right Time. With these recent acquisitions, the Company continues to execute against its growth strategy within new and existing markets by providing industry-leading service to its customers.
Right Time CEO Jeremy Hetherington said, “Right Time is excited to partner with Brian and his team to continue our growth across Ontario. Comfort Masters’ team has built a strong brand with a reputation for premium service, and we look forward to continuing to meet our customers’ needs.”
“Over the past 16 years we have built a strong business centered around great customer service and we are excited to partner with Right Time, which has a similar service-first culture, for the next stage of our growth,” said Mr. Ripchensky.
About Right Time
Right Time is the leading Canadian independent heating, ventilation and air-conditioning (“HVAC”) contractor focused on the residential market. Right Time now operates out of 14 locations in Ontario, Manitoba, Alberta, and British Columbia with over 600 employees, and provides preventative maintenance programs, repairs, and replacements of household HVAC units. For more information, please visit www.right-time.ca. Right Time is majority-owned by Gryphon Investors, a leading middle-market private equity firm.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Contacts
Jason Pratt
Right Time Group of Companies
519-505-2047
JASON.PRATT@RIGHT-TIME.CA