Right Time Heating and Air Conditioning Canada, a portfolio company of Clairvest Group, has acquired Moore & Russell Heating, a Coquitlam, British Columbia-based provider of residential HVAC and hot water services. No financial terms were disclosed. The acquisition is St. Catharines, Ontario-based Right Time’s third since Clairvest invested in the company in 2018.
ST. CATHARINES, Ontario, July 17, 2020 (GLOBE NEWSWIRE) — Right Time Heating and Air Conditioning Canada (“Right Time” or the “Company”) is pleased to announce the acquisition of Moore & Russell Heating LTD (“M&R Heating”). Founded in 1963, M&R Heating provides residential HVAC and hot water services to the Vancouver market from its branch in Coquitlam, British Columbia. Management and employees of M&R Heating will join the Right Time team and will benefit from Right Time’s management and training capabilities as well as support of the Company’s executive leadership based in St. Catharines, Ontario.
M&R Heating is the third 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 developing a national footprint 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 11 locations in Ontario, Manitoba, and British Columbia with 400 employees and provides preventative maintenance programs, repairs and replacements of household HVAC units.
About Clairvest Group
Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. 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. Under the current management team, Clairvest has initiated investments in 54 different platform companies and generated top quartile performance over an extended period.