Right Time Heating and Air Conditioning Canada has acquired Home Aire Care Heating and Cooling, a Kingston and Trenton, Ontario-based provider of residential heating, ventilation and air-conditioning (HVAC) and hot water services.
No financial terms were disclosed.
Based in St. Catharines, Ontario, Right Time is an HVAC contractor focused on the residential replacement market in Ontario and Manitoba.
The company said Home Aire Care is its first acquisition since last November’s investment by Clairvest Group, a Canadian mid-market private equity firm.
Right Time Completes Acquisition of Home Aire Care Heating and Cooling
TORONTO, June 14, 2019 (GLOBE NEWSWIRE) — Right Time Heating and Air Conditioning Canada (“Right Time” or the “Company”) is pleased to announce the acquisition of Home Aire Care Heating and Cooling (www.homeairecare.ca). Founded in 1978, Home Aire Care provides residential HVAC and hot water services from its two branches located in Kingston and Trenton, Ontario. Management and employees of Home Aire Care are joining the Right Time team and will benefit from Right Time’s call centre capabilities as well as the support of the Company’s executive leadership based in St. Catharines, Ontario.
The acquisition of Home Aire Care Heating and Cooling is the first acquisition completed by Right Time following its partnership with Toronto-based Clairvest Group in November 2018. The partnership with Clairvest provides Right Time with capital and strategic support to expand the Company’s footprint through strategic acquisitions.
About Right Time
Right Time is the leading Canadian independent heating, ventilation and air-conditioning (“HVAC”) contractor focused strictly on the residential replacement market. Right Time now operates out of nine locations in Ontario and Manitoba and provides preventative maintenance programs, repairs and replacements of household HVAC units. www.right-time.ca
About Clairvest Group
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution capability to support the growth and development of its investee partners.