Gryphon and Portfolio Company News
Right Time Group of Companies Acquires Climate Air Heating & Air Conditioning
Continued Growth in Ontario to Better Serve Our Customers
Right Time Group of Companies (“Right Time” or the “Company”) announced the acquisition of Climate Air Heating & Air Conditioning. Founded in 2002, Climate Air provides residential heating, cooling, air quality, and hot water services to homeowners in the City of Barrie, Ontario, and surrounding areas. Management and employees of Climate Air will join the Right Time team and will benefit from Right Time’s management and training capabilities. Terms of the transaction were not disclosed.
Right Time is continuously looking to add new residential HVAC and home services locations to its existing network in Canada. Interested owners are asked to contact Curtis Budgell at the coordinates below for more information.
Climate Air is the eleventh acquisition completed by Right Time. Craig Goettler, the Company’s CEO, said, “Right Time immediately took notice of the long-standing business Dennis Kavaratzis built from the ground up at Climate Air. It is in that spirit that Climate Air will remain a local company, committed to serving the community and people of Barrie. New and existing customers will continue to receive the high level of customer satisfaction for which the Climate Air brand is known.”
“For twenty years, Climate Air has been a successful family business in Simcoe County, devoted to serving our community and offering customer service excellence,” said Climate Air owner Dennis Kavaratzis. “We are very excited to join The Right Time Group. Our mission has always been to provide the best home comfort experience for sales, installations, service, and customer service. With the support of The Right Time Group, we will reach our goals and continue to deliver optimum service.”
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 17 locations in Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia with over 700 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 $7.50 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
Curtis Budgell
Right Time Group of Companies
204-296-8420
CURTIS.BUDGELL@RIGHT-TIME.CA