Founders, Silicon Valley investors, and executives are returning to San Francisco after fleeing during the pandemic almost four years ago.

Technology founders even boasted about their success in securing funding outside the Bay Area and pushed for remote work among their employees. 

But despite the city suffering high levels of crime and homelessness, virtually rendering parts of downtown a no-go area, slowly but surely those involved in the tech industry are making a return to the City by the Bay.

Notable tech figures, like Elon Musk who has long criticized San Francisco’s political culture, has been back in the city since October 2022 when he purchased Twitter, now X together with its headquarters. 

Entrepreneurs and investors are returning with the city now at the forefront of the latest revolution in emerging tech, as AI slowly becomes more mainstream, according to the Wall Street Journal. 

Notable tech figures, such as Elon Musk , who has long criticized San Francisco’s political culture, has been back in the city since October 2022 when he purchased Twitter, now X together with its headquarters.

The headquarters of X occupies a pride of place position in San Francisco’s downtown area

After a pandemic-induced exodus from San Francisco by founders, Silicon Valley figures, and tech execs, there is a notable return to the city, driven by new tech. Pictured, the Golden Gate Bridge in San Francisco

Companies like OpenAI, which run ChatGPT, are leasing new buildings in the city while other Bay Area tech companies are reinforcing return-to-office mandates, with Robinhood Markets and Chime now implementing stricter policies for staff.  

OpenAI’s CEO, Sam Altman, has his main home in San Francisco’s Russian Hill neighborhood. 

Tech institutions like Y Combinator are also expanding their presence in San Francisco, while some co-founders, like those of fintech startup Brex, have returned after initially moving to other cities during the pandemic.

In 2020, venture capitalist Keith Rabois encouraged startup founders to leave San Francisco altogether for Miami, citing the latter’s safety, lower taxes, and tech-friendly mayor.

OpenAI’s CEO, Sam Altman, has his main home in San Francisco’s Russian Hill neighborhood

Companies like OpenAI which run ChatGPT are leasing new buildings in the city

The city’s longstanding tech reputation, proximity to renowned universities for engineering talent and a recent AI boom are all factors drawing people back

Rabois, now at Khosla Ventures, but who has had significant success with Airbnb and DoorDash, described San Francisco as ‘miserable on every dimension’ in a tweet.

But now that strategy has changed and it appears the tide is turning with several of the startups he supported now relocating or establishing offices back in San Francisco in order to improve their  ability to attract engineering talent. 

Rabois, an early executive at PayPal recognized in Silicon Valley for both his outspoken opinions and successful investments, relocated to Miami a year after joining Founders Fund. 

In Miami, he purchased a $29 million waterfront property and established a new office for the firm. 

This move coincided with a period of low-interest rates, fostering a surge in startup funding and prompting various venture firms to expand their presence nationwide.

Miami’s mayor, Francis X. Suarez, even declared the city as the world’s crypto capital.

But last year, venture investment in Miami saw a massive 70 percent plunge with just $2 billion invested last year.

Keith Rabois, now at Khosla Ventures, but who has had significant success with Airbnb and DoorDash, had previously described San Francisco as ‘miserable on every dimension’ 

Howie Liu, CEO of enterprise startup Airtable, has increased his time in San Francisco to meet with sales customers after spending a significant part of the pandemic in Los Angeles

Henrique Dubugras, co-founders of the fintech startup Brex, returned to San Francisco 

One AI startup, Delphi, secured funding from Rabois in Miami and has moved the HQ to San Francisco.

Traba, a contracting startup also initially backed by Rabois three years ago, opted to open an office in New York, where a majority of its employees now operate. 

Similarly, OpenStore, an e-commerce venture co-founded by Rabois in 2021, established a new engineering hub in the Bay Area last year, although Rabois notes the  majority of the startup’s workforce remains based in Miami.

Nevertheless, Silicon Valley leaders are beginning to engage in local politics once again and looking out for the safety of families and businesses moving back to the area.

Despite a 12 percent decline in investment for Bay Area startups to $63.4 billion last year, San Francisco has demonstrated resilience compared to smaller tech hubs like Austin (27 percent decrease) and Los Angeles (42 percent decrease).

Plenty of others are also returning. Mo Koyfman, the founder of venture firm Shine Capital, believes San Francisco has staying power having had its tech businesses built over the last several decades with the pandemic being a mere blip in terms of time. 

Ben Horowitz, co-founder of venture firm Andreessen Horowitz, chose to reside in Las Vegas during the pandemic, where he continues to live

Peter Thiel, a billionaire investor and founder of PayPal, Palantir Technologies and the Founders Fund, has made Los Angeles his home

Erik Torenberg, an investor in startups Scale AI and Figma, recently moved from Miami to San Francisco, where he is working on a new media company

Last year, Henrique Dubugras and Pedro Franceschi, left, co-founders of the fintech startup Brex, returned to San Francisco after coming under investor pressure

Prestigious universities such as Stanford are a key reason as any why top-tier venture firms must maintain a presence in the Bay Area, Koyfman believes.

Shine opened an office in San Francisco this January despite its HQ being in New York City.

Last year, Henrique Dubugras and Pedro Franceschi, co-founders of the fintech startup Brex, returned to San Francisco under investor pressure after relocating to Los Angeles, New York City, and then Miami during the pandemic. 

Despite the company’s valuation soaring to $12 billion, Brex laid off 20 percent of its workforce earlier this year.

Howie Liu, CEO of enterprise startup Airtable, has increased his time in San Francisco to meet with sales customers after spending a significant part of the pandemic in Los Angeles. 

Erik Torenberg, an investor in startups Scale AI and Figma, recently moved from Miami to San Francisco, where he is working on a new media company.

Elon Musk temporarily moved Tesla’s headquarters to Austin from northern California during the pandemic but he has been spending time in the city overseeing X and xAI, the artificial intelligence startup incorporated last year.

Max Gazor, a general partner at venture firm CRV and board member at Airtable, emphasized that the intellectual talent in San Francisco remains unparalleled, particularly in the field of AI, where companies have innovated at lightning speed.

In recent weeks, Bay Area tech companies have been enforcing return-to-office mandates with stricter measures. 

Trading app Robinhood Markets announced in January that managers would monitor employees’ office attendance based on badge swipes after an earlier policy failed. 

Fintech company Chime also implemented return-to-work policies, requiring local employees to come in two days a week.

But not all tech leaders who left San Francisco in recent years have returned. 

Ben Horowitz, co-founder of venture firm Andreessen Horowitz, chose to reside in Las Vegas during the pandemic, where he continues to live. 

Peter Thiel, a billionaire investor and founder of Founders Fund, has made Los Angeles his home.

San Francisco owns one of the worst crime rates in the nation, and is ranked as safer than just 1 percent of US neighborhoods, according to crime tracker Neighborhood Scout 

San Francisco is reeling from soaring crime, an emptying downtown, and residents moving away to safer, cheaper areas 

Despite CEO’s and investors showing they’re open to return, it is a different story when it comes to retail.

One recent snap, taken in the heart of the city’s famed shopping district earlier this month shows tourists wandering down a gutted Powell Street.

Instead of being graced with an array of shops, cafés, bars, and restaurants, the party is seen encountering countless shuttered storefronts.

More shots from photographer Erica Sandberg show more of the same, and how the thoroughfare that runs adjacent to the city’s Downtown, all the way from Market to Fisherman’s Wharf, has become a shell of its former self.

The sights, while startling, should come as no great surprise to anyone keeping up with the now-years-long saga of the crime-ridden, homeless-overrun city, which recently had two nets installed around its seminal bridge to prevent suicides.

One snap, taken in the heart of the city’s famed shopping district , shows a group of tourists wandering down a gutted Powell St – a way once bustling with businesses.

Instead of being graced with an array of shops, cafés, bars, and restaurants, the party is seen encountering countless shuttered storefronts

‘This pic infuriates me,’ wrote Sandberg, a self-employed San Francisco correspondent, in an impassioned post to X that laid bare the city’s current state

‘Tourists, who do a little thing called SPEND MONEY, walking down a gutted Powell St.’, she continued.  

‘[It] should be buzzing with shops, cafes, bars, restaurants, theaters, venues.’

Sandberg, in turn, categorized the fruits of her effort as both ‘depressing [and] embarrassing’ – not to mention a blow to the city’s still-struggling shopping scene.

A homeless camp is pictured in San Francisco’s Tenderloin district in December 2023

More shots from independent commentator Erica Sandberg show more of the same, and how the thoroughfare that runs adjacent to the city’s Downtown has become a shell of its former self

The sights, while startling, should come as no great surprise to anyone keeping up with the now-years-long saga of the crime-ridden, homeless-overrun city, which recently had two nets installed on both sides of its seminal bridge to stop suicides.

A short walk through the area will reveal how there are more closed storefronts than open ones, as businesses continue to flee due to high rents and diminished foot traffic

As mentioned, the 1.4 mile thoroughfare connects Market Street (seen here in this map of store closures) – once one of the most photographed spots Downtown – to Union Square, North Beach, Nob Hill, and Russian Hill before ending at the bay

That said, the district is merely one of many left a husk by the city’s continued homeless and crime crises, which took a turn during the pandemic and have since persisted.

The 1.4 mile thoroughfare connects Market Street – once one of the most photographed spots Downtown – to Union Square, North Beach, Nob Hill, and Russian Hill before ending at the bay, making it a prime destination.

Moreover, its southernmost point is only a stone’s throw from another famed shopping area, the Bay Area’s Mission District, which was recently rocked by a slew of restaurant closures on the equally iconic Valencia Street.

The roadway, located right on the cusp of the city’s embattled Downtown, was once considered one of the most sought-after strips of real estate, but today, like Powell, is reeling from store closures brought on by high rents and diminished foot traffic.

In comments to the San Francisco Chronicle, restaurant owner Rafik Bouzidi explained how he had seen a seemingly endless stream of terminations since opening his eatery in April. 

‘If you took me back before I signed the lease, I would have opened somewhere else,’ he told the paper in a recent interview.

‘Before COVID there was no way in hell you could find an available space on Valencia Street. Now, it seems like another restaurant shuts down every week.’

A few blocks away, restaurants on one of San Francisco’s Valencia Street, also one of the most storied in the country, are closing at an alarming rate – and owners say it’s because of crime

In comments to the San Francisco Chronicle, business owners recently explained how high rents and high rates of homelessness have led to a seemingly endless stream of terminations 

Homeless are seen returning to the streets in the Tenderloins district close to San Francisco’s Moscone Center where the APEC conference was recently held

A homeless encampment is seen along Leavenworth Street in the Tenderloin district, only a few blocks from Powell

Headlines featuring the phrases ‘garbage city, ‘ruined city’ and ‘fallen city’ capture how crippling drug issues and widespread homeless problems continue to remain an issue for residents.

The street then runs more than a mile north along some of the city’s most problem areas, which, as the photos of the stripped storefronts show, are continuing to affect businesses

There, right outside the Nancy Pelosi Federal Building, drug dealers set up shop in full view of the public on a daily basis, with users injecting and smoking with no interference from law enforcement 

The famous thoroughfare runs for more than mile along the city’s embattled Downtown, where open-air drug use is rife

Meanwhile, the situation at Powell – set on one of the stops of the so-called ‘Doom Loop’ of Union Square, City Hall, and Tenderloin and Mid Market – is even worse, with Union currently serving a hive of unsavory, post-pandemic activity, particularly on the street’s terminus on Market Street.

There, right outside the Nancy Pelosi Federal Building, drug dealers set up shop in full view of the public on a daily basis, with users injecting and smoking with no interference from law enforcement.

The street then runs more than a mile north along some of the city’s most problem areas, which, as the photos of the stripped storefronts show, are continuing to affect businesses.

Crimes like robberies and homicides, meanwhile, are on the rise, statistics show – and the city stands to lose $200 million a year in revenue through its business exodus – which has seen major hotels and retailers flee the city center.

Retail stalwart Old Navy announced they would be shuttering their flagship store in the area In October, after Nordstrom also announced they would be closing all of their locations in the city. 

Last April, Whole Foods announced it was closing all their locations, with Anthropologie and Office Depot having also made the same decisions leading some analysts to predict that the city has entered a ‘doom-loop’ of permanent decline.

The situation at Powell – set on one of the stops of the so-called ‘Doom Loop’ of Union Square, City Hall, and Tenderloin and Mid Market – is indicative of the current state of the city, with Union serving a hive of unsavory post-pandemic activity on the street’s terminus on Market

Late last year, the city was widely mocked by Chinese media as it prepared to host its President Xi Jinpingat the Asia-Pacific Economic Cooperation (APEC) summit – spurring it to clear out its encampments in the notorious Tenderloin and South of Market neighborhoods.

US Chinese Radio used the headline ‘Ghost town San Francisco to have major blood exchange as APEC will bring the safest week in history to the city.’

Other headlines featuring the phrases ‘garbage city, ‘ruined city’ and ‘fallen city’ capture how crippling drug issues and widespread homeless problems continue to remain an issue for residents.

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San Francisco de Asis Catholic School (SFdA) is holding a schoolwide pet supply drive this week to celebrate the Feast of St. Francis of Assisi.

Students of all grade levels have been bringing supplies into their classrooms to donate to local animal shelters. These supplies range from paper towels and puppy pads to cat food, leashes and water dishes.

Each classroom has a decorated box set aside to hold donations, which will be gathered through Wednesday, Oct. 11. At the end of the drive, the classroom with the most donations will get to accompany the donations to the shelters and meet some of the animals that will be using them.

On Monday morning, the fourth-grade class was excited to say they were winning, with almost two full boxes of dog food, dish soap and other supplies. One student mentioned a yellow blanket they’d brought in, while another had brought a six-pack of paper towels.

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The entire school is participating in the drive, from preschoolers to eighth-graders. SFdA has also been getting involved, with the parish contributing donations.

Student councilmember Grace Coleman said that, so far, the drive has raised around $800 to fund medical supplies for the animal shelters in addition to the supplies brought into the classrooms. Students at all grade levels said they had plans to bring more supplies in before the end of the week.

“I think it’s important because, especially us being St. Francis’s school, cause St. Francis really loved the animals,” said Zoe Hammer, another student councilmember. “ … It’s really good to help them out.”

“Some animals aren’t as privileged, so they can’t get as much food or things that they need,” said second-grader Nola Dolentz.

In past years, the school has celebrated the Feast of St. Francis with the traditional Blessing of the Animals.

“It’s important to take care of animals, because they’re important and they have value,” added Dolentz’s classmate, Elenora Coleman.

St. Francis is often recognizable in statues and paintings by the birds perched on his shoulder. The saint can be found in several SFdA class projects this week as well, with third-graders illustrating lines from a poem, kindergartners bringing in stuffed animals and first-graders writing out on a construction paper cutout the ways they plan to appreciate nature.

Because the feast day — Oct. 4 — falls in the middle of the week this year on a Wednesday, SFdA came up with the drive as a new tradition that honors St. Francis’s care for animals while helping out the local community. The hope, said principal Tom Sorci, is that the drive will become a new tradition at the school.

The second-grade class on Monday discussed why it was important to take care of animals. Most of the students said they had a pet at home.

“Animals are a big part of our ecosystem, because without animals, we die out,” said George Moran.

“They’re all part of God’s creation,” added his brother, Isaiah Moran. “So it’s just reasonable to take care of everything we can.”

“Sometimes they’re mistreated, and, like other people said, they’re often forgotten. So we really need to take care of them, because there might be not as many as there was before, so we just need to take care of them,” said Azul Batrez.

SFdA is inviting interested Flagstaff residents to join in the drive by dropping off supplies at the school office through Oct. 11.

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When Nick Bosa undertook an expected offseason absence, reported for minicamp but didn’t participate, then missed all of training camp and the preseason, the San Francisco 49ers understood.

Bosa, in the fifth-year option on his rookie contract, wants a new deal. And that’s more than fair and understandable because he’s among the NFL’s best defensive players.

But the Niners’ regular season opener against the Pittsburgh Steelers is only 10 days away and they’re admitting to being surprised a deal still isn’t done.

“Yeah, but that’s where it’s at,” 49ers general manager John Lynch said Thursday during his post cutdown media availability.

Rapper Lil Wayne interviews former NFL linebacker John Lynch at ESPN the Magazine’s NEXT Big Weekend 2009 Super Bowl Party on January 30, 2009 in Tampa, Florida. (Photo by Alexander Tamargo/Getty Images for ESPN the Magazine)

49ers’ John Lynch Is Normally Awesome

A little background: Lynch is a Salt of the Earth kind of person. Yes, he was a fierce hitter as a safety during his Hall of Fame career, but off the field he’s friendly and approachable. Just a good guy.

But the Bosa thing seems to be grating on him a little bit. His answers on the subject, ringing with optimism at the start of training camp, are close to curt now.

Like when he was asked Thursday if there are any updates on the negotiations.

“No,” Lynch replied. “No updates.”

End of answer.

Nick Chubb of the Cleveland Browns is tackled by Nick Bosa of the San Francisco 49ers at Levi’s Stadium on October 07, 2019 in Santa Clara, California. (Photo by Ezra Shaw/Getty Images)

Nick Bosa Holdout Is Holding Up 49ers

Compare that to how Lynch talked when asked about the other edge rushers on the roster — none, by the way, nearly as accomplished as Bosa:

(Feel free to skip the quote because it’s long but proves the point Lynch is happy to talk about stuff. Just not Bosa contract stuff).

“I really like the group,” Lynch said. “For you guys to know, we announced, I think [coach] Kyle [Shanahan] talked about [WR] Danny Gray going to IR, [DL] Robert Beal will as well. He’s coming off a hamstring that he re-injured. We thought the best thing for Robert, he’s a guy we really like and are excited to work for, but we’ve got to get that thing right.

“To qualify for the short term, he had to make our 53. He’s a guy who showed a lot and we’re thrilled about the prospect of working with him going forward, but we’ve got to get him back so that he’s ready. So, we’ll go through that process.

“Drake Jackson has had a tremendous offseason and we’re very excited to see that come to fruition on the field. [Clelin Ferrell], he’s a fit, he’s a Niner. The way he plays, how he plays, his talents, his skillset, he plays hard, all those things. We’re excited about him. Kerry Hyder is just a pro’s pro, always in the right place. He’s a good football player. Austin Bryant is another guy who’s a very good scheme fit that we identified. Very excited about him moving forward.”

Get the drift?

Not yet?

Niners GM John Lynch at the NFL Combine. (Getty Images)

Would 49ers Trade Nick Bosa?

Well, John, what about that Reddit post that contends the team is thinking about trading Bosa? Any chance of that? Any, he’s on the team right now, GM speak?

“No,” Lynch said. “Real simple.”

Shanahan was more upbeat. The coach continues to expect a deal because, well, there is activity even if there hasn’t yet been achievement.

“I’m really hoping it gets done,” the coach said. “I know they’re working tirelessly at it … but hopefully we can get him in here sooner than later.”

As negotiations continue with the regular season beckoning, both sides want to find a sort of sweet spot to get an agreement.

Bosa’s representation initially swung for the fences. They wanted their 25-year-old client to match or beat the annual average salary of the league’s highest-paid defender Aaron Donald. Donald averages $31.6 million per season.

And …

Matthew Stafford #9 of the Los Angeles Rams throws the ball as he is pressured by Nick Bosa #97 of the San Francisco 49ers during the third quarter at SoFi Stadium on October 30, 2022 in Inglewood, California. (Photo by Harry How/Getty Images)

Nick Bosa Wants A BIG Contract

Bosa’s team also wanted to beat the guaranteed money older brother Joey Bosa got from the Chargers — which is $102 million.

It is not known where the 49ers are on all that, but obviously they didn’t simply fold and offer Bosa everything he wants.

And this just in: Bosa has so far been worth the asking price because last season he collected a league-leading 18.5 sacks and was the Defensive Player of the Year.

The situation is the most pressing one the 49ers have now in an offseason they’ve dealt with a lot of pressing stuff. Remember, they moved on from former starter Jimmy Garoppolo, traded Trey Lance, and managed Brock Purdy’s return from elbow surgery.

So the club and Bosa have 10 days to find common ground.

For John Lynch’s sake.

Follow on X: @ArmandoSalguero

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The weighted average asking rent for an apartment in San Francisco has effectively held at around $3,600 over the past quarter, which is less than 3 percent higher than at the same time last year, 12 percent lower than prior to the pandemic and 19 percent below its 2015-era peak of nearly $4,500 a month, with the average asking rent for a one-bedroom in San Francisco holding at around $3,000 per month (which is less than 2 percent higher than at the same time last year, 15 percent lower than prior to the pandemic and 19 percent below peak).

At the same time, the number of apartments listed for rent in San Francisco ticked up a (1) percent over the past month, with 13 percent more units now listed for rent than there were prior to the pandemic, the inventory of condos and single-family homes for sale across the city ticking up, and the cost of capital having jumped.

Our analysis of the rental market in San Francisco is based on over 170,000 data points going back to 2004 that we maintain, normalize and index on a monthly basis, not simply a few years of data or recollections. We’ll keep you posted and plugged-in.

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SAN FRANCISCO, october 4, 2021 /PRNewswire/ — Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has acquired Southern HVAC (“Southern HVAC” or the “Company”) from MSouth Equity Partners (“MSouth”) , a private equity firm based in Atlanta with an office in Nashville. Located in the Southeastern US, Midwestern US and Texas, the Company is a leading provider of residential HVAC, plumbing and electrical services across 15 brands. Southern HVAC’s management team will remain with the Company and retain a meaningful equity stake. Financial terms of the transaction were not disclosed.

Southern HVAC represents Gryphon’s second home services acquisition in the last 10 months. In December 2020Gryphon acquired Right Time Heating & Air Conditioning (“Right Time”), the largest independent residential HVAC services provider in Canada.

Southern HVAC and Right Time will be owned by NAEHS (North American Essential Home Services), but will continue to operate independently, retaining their existing brand names and current management teams, while leveraging the combined scale and scope of the two businesses. As part of the transaction, Ian McKeen has become CEO of NAEHS. Mr. McKeen, a dual US and Canadian citizen, has spent more than 25 years in the home services industry and previously served as President & COO of Service Experts, a leading provider of residential HVAC and plumbing services in the United States and Canada.

Mr. McKeen said, “The holding company structure will allow each company to share in best practices and benefit from scale advantages, while maintaining the separate strategies and management teams that have driven their success to date. I look forward to working with Southern HVAC CEO Bryan Benak and Right Time CEO Craig Goettler to continue building two of the best home services businesses in NorthAmerica.”

Mr. Benak added, “Residential HVAC, plumbing and electrical services remains a highly fragmented industry, with demand growth being driven as consumers spend more time in their homes. We aim to expand our position as the leading residential services provider across Texasthe Southeastern US, and Midwestern US with support from Gryphon, Ian and Right Time.”

Mr. Goettler noted, “We continue to enjoy our partnership with Gryphon and are excited about the opportunity to collaborate with the Southern HVAC management team.”

Alex EarlsGryphon Deal Partners, and Jeff BalagnaGryphon Operating Partner, further added that “The acquisition of Southern HVAC represents an excellent strategic fit for Gryphon’s North American residential services strategy and is highly complementary to Right Time, which has performed ahead of expectations since our investment this past December. Common ownership of both of these companies by NAEHS should create significant value for stakeholders of both companies, and we are excited as part of this investment to support the organic and acquisition strategies of Southern HVAC and Right Time.”

Charles Stubbsto MSouth Partners, said, “Bryan Benak and his team at Southern HVAC were critical to the value creation we experienced during our investment and in building one of the largest residential HVAC platforms in the South and Midwest through organic growth and a buy-and-build strategy. We were fortunate to partner with such an outstanding management team, and we look forward to watching their continued success.”

DLA Piper was legal advisor to Southern HVAC and MSouth. Stephens Inc. and Moelis & Company acted as Gryphon’s financial advisors, while Kirkland & Ellis served as legal advisor.

About Southern HVAC

Southern HVAC is a leading provider of mission-critical residential HVAC, plumbing and electrical replacement and repair services. Southern HVAC now operates 15 brands across Florida, Georgia, Missouri, North Carolina, South Carolinaand Texas with over 650 employees. For more information, please visit www.southernhvac.com.

Southern HVAC is majority-owned by Gryphon Investors, a leading middle-market private equity firm.

About Right Time

Right Time is the leading Canadian independent heating, ventilation, and air-conditioning (“HVAC”) contractor focused on the residential market. Right Time now operates out of 16 locations in ontario, Manitoba, albertaand British Columbia with over 600 employees. For more information, please visit www.right-time.ca.

Right Time is majority-owned by Gryphon Investors, a leading middle-market private equity firm.

About Gryphon Investors
based in san francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ​​ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

Contact:

Lambert & Co.
Caroline Luz
203-656-2829
[email protected]
or
Jennifer Hurson
845-507-0571
[email protected]

SOURCE Gryphon Investors

related links

http://www.gryphoninvestors.com

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Southern HVAC will partner with a sister company at the right time under the joint holding company NAEHS

SAN FRANCISCO, October 4, 2021 / PRNewswire / – Gryphon Investors (“Gryphon”), a leading medium-sized private equity firm, today announced the acquisition of Southern HVAC (“Southern HVAC” or the “Company”) from MSouth Equity Partners (“MSouth”) . , a private equity firm based in Atlanta with an office in Nashville. Located in the Southeastern United States, the Midwestern United States, and Texas, the company is a leading provider of HVAC, plumbing and electrical services for residential buildings with 15 brands. Southern HVAC’s management team will remain with the company and retain a significant equity stake. Financial terms of the transaction were not disclosed.

Southern HVAC represents the acquisition of second home services by Gryphon in the past 10 months. In December 2020, Gryphon acquired Right Time Heating & Air Conditioning (“Right Time”), the largest independent HVAC service provider in Canada.

Southern HVAC and Right Time will be owned but operated independently by NAEHS (North American Essential Home Services), maintaining their existing brand names and current management teams, while leveraging the combined size and reach of the two businesses. As part of the transaction, Ian McKeen has become CEO of NAEHS. Mr. McKeen, a dual citizen of the United States and Canada, has spent more than 25 years in the home service industry and was previously President and COO of Service Experts, a leading provider of HVAC and plumbing services to residential buildings in The United States and Canada.

Mr. McKeen said, “The holding structure will allow each company to share best practices and benefit from economies of scale while maintaining the separate strategies and management teams that have made their success to date. I look forward to working with the CEO of Southern HVAC Bryan Benak and CEO of Right Time Craig Goettler to build two of the best home services companies in North America. “

The story goes on

Mr. Benak added, “Residential HVAC, plumbing and electrical services remain a highly fragmented industry, with demand growing as consumers spend more time in their homes. We aim to strengthen our position as the leading provider of residential services across Europe Texas, the US Southeast and the US Midwest with support from Gryphon, Ian, and Right Time. “

Mr. Goettler said, “We continue to enjoy our partnership with Gryphon and are excited about the opportunity to work with the Southern HVAC Management Team.”

Alex Earls, Gryphon Deal Partners, and Jeff Balagna, Gryphon Operating Partner, added: “The acquisition of Southern HVAC is an excellent strategic addition to Gryphon’s North American residential services strategy and is an excellent addition to Right Time, which has exceeded expectations since our investment last December. Joint ownership by Both NAEHS companies should create significant value for the stakeholders of both companies and we are excited to support Southern HVAC and Right Time’s organic and acquisition strategies as part of this investment. “

Charles Stubbs, an MSouth partner, said: “Bryan Benak and his team at Southern HVAC were instrumental in creating the value we saw during our investment and building one of the largest residential HVAC platforms in the South and Midwest through organic growth and a buy-and-build strategy. We have been fortunate to work with such an outstanding management team and we look forward to their continued success. “

DLA Piper served as legal advisor to Southern HVAC and MSouth. Stephens Inc. and Moelis & Company acted as financial advisor to Gryphon, while Kirkland & Ellis acted as legal advisor.

Via Southern HVAC

Southern HVAC is a leading provider of business critical HVAC, plumbing, and electrical replacement and repair services for residential buildings. Southern HVAC now operates 15 brands throughout Florida, Georgia, Missouri, North Carolina, South carolina, and Texas with over 650 employees. More information is available at www.southernhvac.com.

Southern HVAC is majority-owned by Gryphon Investors, a leading mid-sized private equity firm.

About the right time

Right Time is the leading Canadian supplier of independent heating, ventilation and air conditioning (“HVAC”) focused on the residential market. Right Time is now in 16 locations. employed Ontario, Manitoba, Alberta, and British Columbia with over 600 employees. Further information can be found at www.right-time.ca.

Right Time is majority-owned by Gryphon Investors, a leading mid-sized private equity firm.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm working in partnership with experienced management to focus on profitably growing and more competitive medium-sized companies. The company has over $ 5.0 billion of equity and capital since 1997. Gryphon intends to raise equity of $ 50 million to $ 300 million in portfolio companies with company values ​​of approx. $ 100 million to $ 600 million. Gryphon prioritizes investment opportunities that can create strong partnerships with owners and executives to build leading businesses, leveraging Gryphon’s capital, specialist professional resources and operational expertise.

Contact:

Lambert & Co.
Caroline light
203-656-2829
cluz@lambert.com
or
Jennifer Hurson
845-507-0571
jhurson@lambert.com

Cision

View original content: https://www.prnewswire.com/news-releases/gryphon-investors-completes-majority-investment-in-southern-hvac-and-announces-new-home-services-holding-company-301391488. html

SOURCE Gryphon Investors

The post Gryphon Buyers Completes Majority Funding in Southern HVAC and Publicizes New House Companies Holding Firm appeared first on DAILY SAN FRANCISCO BAY NEWS.

SAN FRANCISCO, October 4, 2021 / PRNewswire / – Gryphon Investors (“Gryphon”), a leading medium-sized private equity firm, today announced the acquisition of Southern HVAC (“Southern HVAC” or the “Company”) from MSouth Equity Partners (“MSouth”) . , a private equity firm based in Atlanta with an office in Nashville. Located in the Southeastern United States, the Midwestern United States, and Texas, the company is a leading provider of HVAC, plumbing and electrical services for residential buildings with 15 brands. Southern HVAC’s management team will remain with the company and retain a significant equity stake. Financial terms of the transaction were not disclosed.

Southern HVAC represents the acquisition of second home services by Gryphon in the past 10 months. In December 2020, Gryphon acquired Right Time Heating & Air Conditioning (“Right Time”), the largest independent HVAC service provider in Canada.

Southern HVAC and Right Time will be owned but operated independently by NAEHS (North American Essential Home Services), maintaining their existing brand names and current management teams, while leveraging the combined size and reach of the two businesses. As part of the transaction, Ian McKeen has become CEO of NAEHS. Mr. McKeen, a dual citizen of the United States and Canada, has spent more than 25 years in the home service industry and was previously President and COO of Service Experts, a leading provider of HVAC and plumbing services to residential buildings in The United States and Canada.

Mr. McKeen said, “The holding structure will allow each company to share best practices and benefit from economies of scale while maintaining the separate strategies and management teams that have made their success to date. I look forward to working with the CEO of Southern HVAC Bryan Benak and CEO of Right Time Craig Goettler to build two of the best home services companies in North America. “

Mr. Benak added, “Residential HVAC, plumbing and electrical services remain a highly fragmented industry, with demand growing as consumers spend more time in their homes. We aim to strengthen our position as the leading provider of residential services across Europe Texas, the US Southeast and the US Midwest with support from Gryphon, Ian, and Right Time. “

Mr. Goettler said, “We continue to enjoy our partnership with Gryphon and are excited about the opportunity to work with the Southern HVAC Management Team.”

Alex Earls, Gryphon Deal Partners, and Jeff Balagna, Gryphon Operating Partner, added: “The acquisition of Southern HVAC is an excellent strategic addition to Gryphon’s North American residential services strategy and is an excellent addition to Right Time, which has exceeded expectations since our investment last December. Joint ownership by Both NAEHS companies should create significant value for the stakeholders of both companies and we are excited to support Southern HVAC and Right Time’s organic and acquisition strategies as part of this investment. “

Charles Stubbs, an MSouth partner, said: “Bryan Benak and his team at Southern HVAC were instrumental in creating the value we saw during our investment and building one of the largest residential HVAC platforms in the South and Midwest through organic growth and a buy-and-build strategy. We have been fortunate to work with such an outstanding management team and we look forward to their continued success. “

DLA Piper served as legal advisor to Southern HVAC and MSouth. Stephens Inc. and Moelis & Company acted as financial advisor to Gryphon, while Kirkland & Ellis acted as legal advisor.

Via Southern HVAC

Southern HVAC is a leading provider of business critical HVAC, plumbing, and electrical replacement and repair services for residential buildings. Southern HVAC now operates 15 brands throughout Florida, Georgia, Missouri, North Carolina, South carolina, and Texas with over 650 employees. More information is available at www.southernhvac.com.

Southern HVAC is majority-owned by Gryphon Investors, a leading mid-sized private equity firm.

About the right time

Right Time is the leading Canadian supplier of independent heating, ventilation and air conditioning (“HVAC”) focused on the residential market. Right Time is now in 16 locations. employed Ontario, Manitoba, Alberta, and British Columbia with over 600 employees. Further information can be found at www.right-time.ca.

Right Time is majority-owned by Gryphon Investors, a leading mid-sized private equity firm.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm working in partnership with experienced management to focus on profitably growing and more competitive medium-sized companies. The company has over $ 5.0 billion of equity and capital since 1997. Gryphon intends to raise equity of $ 50 million to $ 300 million in portfolio companies with company values ​​of approx. $ 100 million to $ 600 million. Gryphon prioritizes investment opportunities that can create strong partnerships with owners and executives to build leading businesses, leveraging Gryphon’s capital, specialist professional resources and operational expertise.

Contact:

Lambert & Co.
Caroline light
203-656-2829
[email protected]
or
Jennifer Hurson
845-507-0571
[email protected]

SOURCE Gryphon Investors

similar links

http://www.gryphoninvestors.com

The post Gryphon Buyers Completes Majority Funding in Southern HVAC and Declares New Dwelling Providers Holding Firm appeared first on DAILY SAN FRANCISCO BAY NEWS.

SAN FRANCISCO – (BUSINESS WIRE) – MNB Holdings Corporation (OTCQB: MNBO) (the “Company”), holding company of Mission National Bank, San Francisco, CA (the “Bank”) is pleased to announce the appointment of Jarhett Blonien as director of the Corporation and the Bank . Ming Chow has also been promoted to President of the Company and the Bank and Director of the Bank. Rashmi Singh has been promoted to Chief Lending Officer of the bank.

“We are pleased to have Mr. Blonien join the Company’s Board of Directors and recognize the leadership of two of our Executive Officers, Mr. Ming Chow and Ms. Rashmi Singh, through their promotions to Director and President of the Bank, and Chief Lending Officer of the Bank” said JoAnne Loughlin, CEO. “Mr. Blonien brings additional legal and political expertise and connections to the company and the bank. Mr. Chow has served as Executive Vice President, Chief Financial Officer of the company and the bank since 2013, serves as a member of the Executive Committee and leads the employees in times of transition and challenges. Ms. Singh has been with the bank since 2019 and was strategic in developing and maintaining the bank’s relationship-based loan and deposit portfolio. ”

Mr. Blonien is a Government Relations Attorney with J. Blonien A Professional Law Corporation. Mr. Blonien has extensive experience at various levels of state government and has spent his career mastering the legislative process, building relationships with key stakeholders, and learning how to creatively implement successful strategies in an ever-evolving political landscape. Mr. Blonien is a recognized expert in gambling and government law. Mr. Blonia’s practice includes topics such as healthcare, local government, land use, financial institutions, water and environmental issues. Prior to starting his own business, Mr. Blonien served as Assistant Attorney General under Kamala Harris in the California Department of Justice. His legal practice in the public sector focused on environmental, criminal and civil rights issues. Prior to joining the Attorney General’s Office, Mr. Blonien attended Santa Clara University, where he received both his Bachelor of Science and Doctorate degrees in law. Mr. Blonien is a member of the California State Bar.

Mr. Chow has over 20 years experience in a variety of senior and executive positions with community banks in California, Nevada and Arizona with total assets of $ 200 million to $ 3 billion. Mr. Chow holds a Masters of Business Administration from the Queens University of Charlotte and a BS from the University of North Carolina at Charlotte. Mr. Chow is also a graduate of the University of Washington’s Pacific Coast Banking School.

Ms. Singh has over 20 years of regulated banking experience in the San Francisco Bay Area. She spent the first decade of her career at Silicon Valley Bank lending to technology companies, while over the past decade as a regional manager at United Business Bank, she lent a variety of companies and property types across California. She brings expertise in lending to the hospitality industry, fast food companies, nonprofits, schools, and other properties with special uses. During that tenure, she has over $ 500 million

Mission National Bank (MNB) was founded in 1982 with the aim of serving the underserved. Banking services are provided through a branch in San Francisco, California located in a suitable census area that is classified as High Distress and provides a boost to MNB in ​​their target market.

MNB provides business audits, business loans, and personal banking services to underserved groups in the Mission District and surrounding neighborhoods in the San Francisco Bay Area, including minority-owned small businesses and niche retailers.

MNB is an FDIC-insured Minority Depository Institution (MDI) and a Certified Community Development Financial Institution (CDFI) of the US Department of the Treasury.

MNB was awarded the Bank Enterprise Award (BEA) by the Community Development Financial Institution (CDFI) Fund in 2016, 2017, 2018 and 2020.

See also www.mnbsf.com.

The post MNB Holdings Company (OTCQB: MNBO), Holding Firm of Mission Nationwide Financial institution, San Francisco, CA Proclaims Appointment of Administrators, President, and Chief Lending Officer appeared first on DAILY SAN FRANCISCO BAY NEWS.

BERKELEY (CBS SF) – A Berkeley man was arrested for arson Thursday morning and was carrying a loaded shotgun after setting fire to the maisonette he lived in, police said Friday.

The officers went to the 1500 block on Stuart Street to check on the welfare of a man who appeared to be acting erratically in his home.

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The neighbors told police they heard glass breaking and the 34-year-old man yelled and knocked on the walls.

According to police, officers tried to speak to the man but he refused to open the door. Officials tried more than once and failed, police said.

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(Photo: Berkeley Police Dept)

Officers left after deciding the man was alone and in no danger. Around 10 a.m., the dispatchers received the call that the maisonette was on fire and the man with a shotgun was standing in front of his house and acting erratically.

The officers went back home and held the man while the firefighters put out the fire.

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The post Man Discovered Holding Shotgun Exterior His Burning Berkeley Dwelling Arrested for Arson – CBS San Francisco appeared first on DAILY SAN FRANCISCO BAY NEWS.