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Gryphon Investors-backed Right Time acquires Romaniuk

Right Time Group of Companies, majority owned by Gryphon Investors, has acquired Romaniuk Heating and Air Conditioning, an Edmonton, Alberta-based provider of residential and commercial HVAC, air quality, plumbing and hot water services.

Right Time Group of Companies, majority owned by Gryphon Investors, has acquired Romaniuk Heating and Air Conditioning, an Edmonton, Alberta-based provider of residential and commercial HVAC, air quality, plumbing and hot water services. No financial terms were disclosed. Based in St. Catherines, Ontario, Right Time is an HVAC contractor focused on the residential market.

PRESS RELEASE

ST. CATHARINES, Ontario, April 5, 2021 — Right Time Group of Companies (“Right Time” or the “Company”) is pleased to announce the acquisition of Romaniuk Heating and Air Conditioning (“Romaniuk”). Founded in 1989 by Tony Romaniuk, Romaniuk provides residential and commercial HVAC, air quality, plumbing and hot water services to the Edmonton market. Management and employees of Romaniuk will join the Right Time team and will benefit from Right Time’s management and training capabilities. Terms of the transaction were not disclosed.

Romaniuk is the sixth acquisition completed by Right Time and the second following its partnership with San Francisco-based Gryphon Investors in December 2020. Last month, Right Time announced the acquisition of Oakville, Ontario-based AtlasCare. With these recent acquisitions, the Company continues to execute against its growth strategy within new and existing markets by providing industry-leading service to its customers.
Right Time CEO Jeremy Hetherington said, “Right Time is excited to partner with Tony and his team to expand the Company into Alberta. The Romaniuk team has built a strong business in Edmonton and Right Time is excited about joining forces. We look forward to continuing to deliver the high level of customer service that the Romaniuk brand is known for.”

“I started Romaniuk in 1989 and have owned and operated the Company since. As I thought about transitioning the business, the steady and experienced hands at Right Time were my clear first choice. Their track record of acquiring and integrating local brands onto their platform while preserving their legacies differentiated them as the leading consolidator in the Canadian residential HVAC and plumbing industry,” said Tony Romaniuk.

About Right Time
Right Time is the leading Canadian independent heating, ventilation and air-conditioning (“HVAC”) contractor focused on the residential market. Right Time operates out of 13 locations in Ontario, Manitoba, Alberta, and British Columbia with over 500 employees and provides preventative maintenance programs, repairs and replacements of household HVAC units. For more information, please visit https://www.right-time.ca/.
Right Time is majority-owned by San Francisco-based Gryphon investors.

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.