14:03:05 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



FirstService Corp (2)
Symbol FSV
Shares Issued 44,618,877
Close 2023-09-13 C$ 206.88
Market Cap C$ 9,230,753,274
Recent Sedar Documents

FirstService completes three restoration acquisitions

2023-09-14 11:17 ET - News Release

Mr. Scott Patterson reports

FIRSTSERVICE BROADENS RESTORATION FOOTPRINT

FirstService Corp. has recently completed three restoration tuck-under acquisitions. Terms of the transactions were not disclosed.

First Onsite Restoration acquired Nashville, Tenn.-based Case Restoration Co. Founded in 2001, the company is a full-service provider of emergency water and fire mitigation, property restoration, and capital improvement services throughout the Nashville metropolitan area. Case Restoration brings a depth of expertise in commercial and large-loss claims and has developed a broad, blue-chip customer base across the education, government and retail sectors. This acquisition enhances FirstService's presence and client coverage in this fast-growing market.

Paul Davis Restoration added to its company-owned platform with the acquisitions of its franchised operations serving the Richmond, Va., and Reno, Nev., metropolitan areas, respectively. The Richmond territory, together with the company's previously acquired Raleigh, N.C., franchised operation, expands its footprint in the Mid-Atlantic region. Similarly, the Reno location augments the scale and service capabilities of the company's existing Nevada and Utah company-owned operations.

"These tuck-under transactions bolster our restoration capabilities and broaden our geographic coverage in key growth markets," said Scott Patterson, chief executive officer of FirstService. "We welcome the leaders and their teams and look forward to their contributions in serving our clients and further growing our business," he concluded.

About FirstService Corp.

FirstService is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential -- North America's largest manager of residential communities; and FirstService Brands -- one of North America's largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.

FirstService generates more than $4.1-billion (U.S.) in annual revenues and has approximately 27,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term record of creating value and superior returns for shareholders.

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