FirstService Adds Restoration Tuck-Under Acquisitions
10 Januar 2024 - 1:30PM
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 Dayton,
Ohio-based DryPatrol LLC. Founded in 2007, the company is one of
the largest providers of full service commercial restoration
services in Dayton and the surrounding region. DryPatrol renders
water and flood mitigation, as well as mold, fire and environmental
restoration services to property managers and other commercial
clients across southwestern Ohio.
Paul Davis Restoration added to its
company-owned platform by acquiring two of our existing franchised
operations, one of which serves the Denver, Colorado metropolitan
area and the other which covers urban markets across southern
Idaho. As with our other Paul Davis operations, these businesses
are full-service restoration providers to residential and
commercial properties. The acquisitions complement our existing
Paul Davis company-owned operations in Utah and Nevada and enhance
our ability to drive growth across the Mountain States region.
“These additions reflect our ongoing commitment
to invest in key markets which are susceptible to weather-related
property and large loss claims,” said Scott Patterson, Chief
Executive Officer of FirstService. “We are excited to
work with the management teams to capitalize on our future
opportunity in these markets.”
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 approximately US$4.3
billion in annual revenues and has more than 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
RakusinCFOFirstService
Corporation(416) 960-9566
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