M&A Deal Summary

Gryphon Investors Acquires Right Time Heating and Air Conditioning Canada

On December 30, 2020, private equity firm Gryphon Investors acquired business services company Right Time Heating and Air Conditioning Canada from Clairvest Group for 100M CAD

Acquisition Highlights
  • This is Gryphon Investors’ 5th transaction in the Business Services sector.
  • This is Gryphon Investors’ 2nd largest (disclosed) transaction.
  • This is Gryphon Investors’ 1st transaction in Canada.
  • This is Gryphon Investors’ 1st transaction in Ontario.

M&A Deal Summary
Date 2020-12-30
Target Right Time Heating and Air Conditioning Canada
Sector Business Services
Buyer(s) Gryphon Investors
Sellers(s) Clairvest Group
Deal Type Secondary Buyout
Deal Value 100M CAD

Target

Right Time Heating and Air Conditioning Canada

St. Catharines, Ontario, Canada
website
Right Time Heating and Air Conditioning Canada, Inc. is an 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.

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Buyer(S) 1

Buyer

Gryphon Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 8.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Gryphon Investors is a private equity firm focused on making $50 to $300 million of equity or equity-linked investments in middle-market companies. Target transaction situations include traditional buyouts, leveraged build-ups, and growth financings. Gryphon will consider both control and shared-control positions. Sectors of interest include business services, consumer, retail, automotive, chemicals, general manufacturing, healthcare, and hotels. Gryphon Investors was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 64 of 81
Sector (Business Services) 5 of 6
Type (Secondary Buyout) 20 of 24
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2020) 9 of 9
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-22 Meazure Learning

Birmingham, Alabama, United States

Meazure Learning is the world’s largest remote exam proctoring company, also offering a full suite of assessment products and services, including proprietary exam development and delivery software as well as reporting and psychometric services, to the academic and professional testing markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Water’s Edge Dermatology

Arcadia, Florida, United States

Water’s Edge Dermatology is a provider of comprehensive dermatology services in over 30 locations in Florida. The company treats patients of all ages suffering from skin diseases, acne, sun damage, skin cancer, vein health issues, as well as those seeking cosmetic and plastic surgery. Water’s Edge Dermatology was founded in 1998 and is based in Arcadia, Florida.

Sell -

Seller(S) 1

SELLER

Clairvest Group

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1987
PE ASSETS 1.7B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Clairvest Group is a generalist Canadian private equity firm focused on mid-market businesses with C$5 to C$50 million of EBITDA. While Clairvest does not have any sector preferences, the Firm prefers fragmented sectors with recurring revenue business models and economies of scale. Clairvest will consider both minority and majority investment positions and invests in the range of C$15- C$100 million per transaction. Clairvest was formed in 1987 and is based in Toronto.

DEAL STATS #
Overall 23 of 27
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 6 of 7
State (Ontario) 8 of 8
Country (Canada) 11 of 11
Year (2020) 3 of 3
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-17 Arrowhead Environmental Partners

Uniontown, Alabama, United States

Arrowhead Environmental Partners offers a uniquely designed, high capacity, and environmentally sound disposal facility for customers, communities, and a wide range of industries across 33 states. Arrowhead Environmental Partners is based in Uniontown, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-16 AlsoEnergy

Boulder, Colorado, United States

AlsoEnergy provides complete advanced solutions for control, monitoring, and management of solar PV and solar plus storage assets. This includes integrated software and hardware systems for DAS, SCADA, and power plant control, along with services covering the project lifecycle from system design and engineering through installation, commissioning, and support. AlsoEnergy provides technology solutions for more than 30GW of production in over 50 countries worldwide, providing regional expertise in all world markets using sales and service offices in Germany, Japan, and India along with US headquarters. AlsoEnergy was formed in 2007 and is headquartered in Boulder, Colorado.

Sell $695M
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