PE-backed Right Time buys M&K Climate Care

St. Catharines, Ontario-based Right Time Heating and Air Conditioning Canada, a portfolio company of Clairvest Group, has acquired M&K Climate Care.

St. Catharines, Ontario-based Right Time Heating and Air Conditioning Canada, a portfolio company of Clairvest Group, has acquired M&K Climate Care. No financial terms were disclosed. M&K provides residential HVAC and hot water services from its branch in London, Ontario.

PRESS RELEASE

TORONTO, Feb. 26, 2020 (GLOBE NEWSWIRE) — Right Time Heating and Air Conditioning Canada (“Right Time” or the “Company”) is pleased to announce the acquisition of M&K Climate Care which now operates as M&K. Founded in 1983, M&K provides residential HVAC and hot water services from its branch in London, Ontario.

Management and employees of M&K will join the Right Time team and will benefit from Right Time’s call centre and training capabilities as well as support of the Company’s executive leadership based in St. Catharines, Ontario.

M&K is the second acquisition completed by Right Time, following its partnership with Toronto-based Clairvest Group in November 2018. Right Time continues to grow in its existing markets by providing industry leading service to its customers and is intent on entering new geographies via acquisitions or partnerships with residential HVAC replacement contractors.

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 ten locations in Ontario and Manitoba with 400 employees and provides preventative maintenance programs, repairs and replacements of household HVAC units. www.right-time.ca

About Clairvest Group
Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $2.4 billion of capital under management. Clairvest invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in owner-led businesses that have the potential to generate superior returns. Clairvest’s mission is to partner with entrepreneurs to help build strategically significant businesses. Under the current management team, Clairvest has initiated investments in 50 different platform companies.