Gryphon-backed Right Time acquires Furnaceguys

Right Time Group of Companies has acquired Furnaceguys Home Heating & Cooling, a Saskatoon-based provider of residential heating, cooling, air quality, and hot water services.

Right Time Group of Companies has acquired Furnaceguys Home Heating & Cooling, a Saskatoon-based provider of residential heating, cooling, air quality, and hot water services. No financial terms were disclosed. St. Catherines, Ontario-based Right Time, a heating, ventilation and air conditioning contractor, is backed by Gryphon Investors.

PRESS RELEASE

ST. CATHARINES, Ontario, October 18th, 2021 — Right Time Group of Companies (“Right Time” or the “Company”) is pleased to announce the acquisition of furnaceguys Home Heating & Cooling. Founded in 2008, furnaceguys provides residential heating, cooling, air quality, and hot water services to homeowners in the city of Saskatoon, Saskatchewan, and surrounding areas. Management and employees of furnaceguys 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 majority-owned by Gryphon Investors, a leading middle-market private equity firm.

furnaceguys is the tenth acquisition completed by Right Time and Gryphon Investors, and the first Saskatchewan-based acquisition. The Company’s CEO, Craig Goettler, said, “Right Time is impressed with the business that owners Dennis McKee and his wife Kathleen Brannen have built. We look forward to continuing to deliver the high level of customer service that the furnaceguys brand is known for. furnaceguys will continue to remain a local company, committed to the community and people of Saskatoon.”

“For more than ten years, furnaceguys has built a strong business centered around great customer service,” said Mr. McKee. “As we thought about the next stage of the business, Right Time was a natural partner given their exceptional experience and track record of integrating strong local companies into their national brand. We know furnaceguys will continue to maintain their brand promise of best-in-class customer service committed to serving the people of Saskatoon with Right Time.”

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.

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, 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.

About Gryphon Investors
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.