Alinda Capital Partners seeks to sell Reliance Comfort for C$3 bn to C$4 bn
08 March 2017
US private equity firm Alinda Capital Partners has put Reliance Comfort L.P, for sale, in a deal that values the Canadian provider of heating and cooling systems between C$3 billion to C$4 billion, Reuters yesterday reported, citing people with knowledge of the process.
Alinda has hired Canadian Imperial Bank of Commerce and Goldman Sachs as financial advisers for the sale, the report said.
The sale is expected to attract interest from Canadian pension funds and US private equity firms, the report added.
Founded in 1997, Reliance Comfort provides heating, cooling, and water heater solutions for homeowners in Canada.
The Ontario-based company sells, rents, maintains, and services heating, ventilation and air conditioning equipment, furnaces, water heaters, air conditioners, and other HVAC products.
It also offers plumbing services, protection and maintenance plans, and furnace and air conditioner services.