CK Asset Holdings
VerifiedPe Firm
Li Ka-shing family holding; owns Reliance Home Comfort (75%; CK Infrastructure 25%). Functionally PE-like long hold.
Ownership
- Reliance Home Comfort backed by CK Asset Holdings Verified
Related news
- hpacmag.com· Jun 12, 2024
The article reports that Right Time Group has acquired Belyea Bros., a Toronto-based plumbing and heating company founded in 1908. The acquisition expands Right Time's operations to 27 locations across multiple Canadian provinces. The article also notes that Right Time named Doug Hart as CEO in May 2024 and is majority-owned by a San Francisco-based private equity firm. No mention is made of CK Asset Holdings.
- newswire.ca· Mar 31, 2017
Cheung Kong Property Holdings Limited (CKP), via its subsidiary, has entered into a definitive agreement to acquire Reliance Home Comfort from Alinda Capital Partners for an equity purchase price of C$2.82 billion, funded from cash on hand and assumption of existing debt. CKP intends to on-sell up to 25% of Reliance to CK Infrastructure upon obtaining necessary approvals. The acquisition is subject to customary approvals under the Investment Canada Act and the Competition Act.
- ckah.com
The article provides an overview of CK Asset Holdings Limited, describing it as a multinational conglomerate with diverse capabilities in property development, investment, hotel and serviced suite operation, and infrastructure and utility asset operation. It highlights the company's leading market share in Hong Kong, extensive portfolio in Mainland China, and presence in Singapore and the United Kingdom, as well as its global diversification into pub operation and infrastructure assets.
- en.wikipedia.org
This Wikipedia article describes Reliance Home Comfort, a Canadian water heater and HVAC company. It states that Reliance was purchased from Alinda by the CK group in 2017 for $2.8 billion. The article covers the company's history, products, services, and criticism, but does not provide any additional details about CK Asset Holdings or its current involvement.
- reliancehomecomfort.com
Reliance is to be acquired by Cheung Kong Property Holdings Limited (CKP) in a transaction comprising an equity purchase price of C$2.82 billion funded from cash on hand and an assumption of all of Reliance's existing debt. CKP intends to on-sell up to 25% of Reliance to CK Infrastructure upon obtaining necessary approvals. The article quotes Reliance's CEO expressing excitement about CKP as a new investment partner and notes that completion is conditional upon approvals under the Investment Canada Act and the Competition Act.