TORONTO, Oct. 24, 2022 (GLOBE NEWSWIRE) — FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) introduced right this moment that it has just lately accomplished three acquisitions inside its property restoration service strains, together with the addition of two regional industrial restoration companies to its First Onsite Restoration platform, and the growth of its Paul Davis Restoration company-owned operations with the acquisition of one in every of its bigger current franchises. These transactions fill in regional gaps inside our North American geographic footprint and additional add to our property restoration service capabilities. The leaders of those companies will proceed to handle their respective day-to-day operations. Terms of the transactions weren’t disclosed.
Watermark, based in 2002 and headquartered in Birmingham, Alabama, supplies industrial property water and hearth restoration in addition to capital enchancment and renovation companies throughout the Southeast U.S., together with Alabama, Texas, Florida, Georgia and North Carolina. Watermark additional bolsters First Onsite’s Southeast footprint and deepens its experience and relationships with multi-family property administration and different industrial purchasers.
Headquartered close to Toronto, Canada, Confra Global Solutions is a regional supplier of business renovation and reconstruction companies all through Southern Ontario. The acquisition of sure belongings of Confra supplies First Onsite’s Canadian operations with extra capabilities and experience in rendering a full-service restoration providing to its industrial purchasers throughout the massive Greater Toronto metropolitan space and the encircling areas.
Founded in 2001, Paul Davis Lincoln is likely one of the largest suppliers of restoration companies within the Midwest U.S., together with emergency mitigation, contents and reconstruction restoration companies for residential, industrial and institutional property homeowners and property managers. The Paul Davis Lincoln franchised operation serves central and northern Nebraska, southern Missouri and central Illinois and is one in every of 325 whole franchised and company-owned areas throughout North America working beneath the Paul Davis model. This transaction is a continuation of our technique of selectively buying bigger Paul Davis franchises to develop our company-owned operations.
“These three tuck-under acquisitions are important additions to our First Onsite and Paul Davis restoration brands, enhancing our geographic footprint and scale, increasing our service capabilities and adding new regional and local client relationships,” mentioned Scott Patterson, Chief Executive Officer of FirstService. “We welcome the new leaders and their teams to the FirstService family of owned operations and look forward to their contributions in collectively driving future growth.”
ABOUT FIRSTSERVICE CORPORATION
FirstService Corporation is a North American chief within the property companies sector, serving its prospects by way of two industry-leading service platforms: FirstService Residential – North America’s largest supervisor of residential communities; and FirstService Brands – one in every of North America’s largest suppliers of important property companies delivered by way of individually branded franchise methods and company-owned operations.
FirstService generates greater than US$3.4 billion in annual revenues and has roughly 25,000 staff throughout North America. With vital insider possession and an skilled administration staff, FirstService has a long-term observe report of making worth and superior returns for shareholders. The Common Shares of FirstService commerce on the NASDAQ and the Toronto Stock Exchange beneath the image “FSV”, and are included within the S&P/TSX 60 Index. More info is offered at www.firstservice.com.
COMPANY CONTACT:
Jeremy Rakusin
Chief Financial Officer
FirstService Corporation
(416) 960-9566
