TORONTO, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) (“Clairvest”) today announced that Clairvest and Clairvest Equity Partners V (“CEP V”) made a growth equity investment in Right Time Heating and Air Conditioning Canada Inc. (“Right Time” or the “Company”). Clairvest partnered with the two co-founders who will continue to own 50% of the business after Clairvest’s investment.
Right Time is a leading Canadian independent heating, ventilation and air-conditioning (“HVAC”) contractor focused strictly on the residential replacement market. Right Time operates out of seven locations in Ontario and Manitoba and provides preventative maintenance programs, repairs and replacements of household HVAC units. Clairvest will support the existing management team to continue to build out the Company’s corporate infrastructure, increase investment in marketing and assist with future acquisitions.
“We are excited to partner with Right Time and support its seasoned leaders. With its base of seven branches, Right Time represents a rare platform in a very attractive industry. We are impressed with our new partners’ track record and look forward to working with them in the coming years to help the Company achieve its growth objectives,” said Mitch Green, Managing Director of Clairvest.
“When Right Time decided to bring on an equity partner, we were looking for an active, non-control-oriented growth investor who would complement our existing skill set, and we found just that in Clairvest. Right Time is embarking on an exciting new growth chapter, and we have the best team in place to go after our goals,” said Jeremy Hetherington, President of Right Time.
Right Time is Clairvest’s 52nd platform investment and the eighth investment by CEP V. The Clairvest / CEP V co-investment pool is capitalized at $600 million and focuses on equity investments in growth companies.
About Clairvest
Clairvest Group Inc. is a private equity management firm that invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.
Clairvest Contact Information
Maria Shkolnik
Director, Investor Relations and Marketing
Clairvest Group Inc.
Tel: (416) 925-9270 | Fax: (416) 925-5753
marias@clairvest.com