Skip to main content

FirstService Broadens Restoration Footprint

Written by Customer Service on . Posted in Mergers And Acquisitions.

First Onsite Restoration and Paul Davis Restoration Add Tuck-Under Acquisitions

TORONTO, Sept. 14, 2023 (GLOBE NEWSWIRE) — FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) today announced that it has recently completed three restoration tuck-under acquisitions. Terms of the transactions were not disclosed.

First Onsite Restoration acquired Nashville, Tennessee-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 our 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, Virginia and Reno, Nevada metropolitan areas, respectively. The Richmond territory, together with our previously acquired Raleigh, North Carolina franchised operation, expands our footprint in the Mid-Atlantic region. Similarly, the Reno location augments the scale and service capabilities of our 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 CORPORATION

FirstService Corporation 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 US$4.1 billion 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 track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol “FSV”, and are included in the S&P/TSX 60 Index. More information is available at www.firstservice.com.

For the latest news from FirstService Corporation, visit FirstService.com.

COMPANY CONTACTS:

Jeremy Rakusin
CFO
FirstService Corporation
(416) 960-9566

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.