Gryphon-backed Right Time buys Anchor Home Comfort

Right Time Group of Companies has acquired Anchor Home Comfort, an Ottawa-based provider of residential HVAC, air quality and hot water services.

Right Time Group of Companies has acquired Anchor Home Comfort, an Ottawa-based provider of residential heating, ventilation and air conditioning, air quality and hot water services. No financial terms were disclosed. St. Catherines, Ontario-based Right Time, a heating, ventilation and air conditioning contractor, was acquired last year by Gryphon Investors from Clairvest Group.

PRESS RELEASE

Right Time Group of Companies Acquires Anchor Home Comfort

ST. CATHARINES, Ontario, Aug. 10, 2021 /CNW/ — Right Time Group of Companies (“Right Time” or the “Company”) is pleased to announce the acquisition of Anchor Home Comfort. Founded in 1986, Anchor Home Comfort provides residential HVAC, air quality, and hot water services to the City of Ottawa, Ontario, and surrounding areas. Management and employees of Anchor Home Comfort will join the Right Time team and will benefit from Right Time’s management and training capabilities. Terms of the transaction were not disclosed.

Anchor Home Comfort is the ninth acquisition completed by Right Time and the first led by the Company’s new CEO, Craig Goettler. Mr. Goettler, who has 15 years of experience in the residential HVAC market, joined Right Time in 2014 and has served as Chief Operating Officer since 2018. He is now focused on driving the Company’s growth strategy of developing a national footprint within new and existing markets by providing industry-leading service to its customers.

“We are very pleased to welcome Anchor Home Comfort to the Right Time team,” said Mr. Goettler. “We have been impressed by the business co-owners Darren Parsons and Ken Turner have built. Anchor Home Comfort has built a strong brand with a reputation for premium service, and we look forward to continuing to deliver the Anchor Home Comfort brand promise. Thank you to our partners at Gryphon Investors for their tremendous support and encouragement as we continue the phenomenal growth throughout Canada.”

“Over the past 35 years we have built a strong business focused on delivering excellent customer service,” said Mr. Parsons. “We are excited to partner with Right Time as we move forward. They have a fantastic track record of integrating strong local HVAC businesses into their national brand, while maintaining exceptional customer 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 16 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.