Century Fire Protection Completes Two Acquisitions
April 16 2019 - 4:30PM
FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”)
announced today that its subsidiary, Century Fire Protection
(“Century”), has recently acquired Advantage Fire Sprinkler
Company, Inc. (“Advantage Fire”) and Chief Fire Systems, Inc.
(“Chief Fire”). The leaders of both businesses have retained
minority equity interests and will continue to run day-to-day
operations. Terms of the transactions were not disclosed.
Founded in 1992, Advantage Fire is a
full-service fire protection firm serving the metro Atlanta and
northern Georgia markets. Advantage Fire’s particular strength in
commercial sprinkler installation provides Century with increased
scale in its home Atlanta market.
Chief Fire, established in 2005 and
headquartered in Houston, Texas, specializes in the installation of
fire sprinkler systems. With the addition of Chief Fire, Century
establishes a presence in the strategically important Houston
metropolitan area, the fourth largest in the U.S.
“We are delighted to be adding both businesses
and partnering with their strong operators to drive further growth
in our fire sprinkler suppression capabilities,” said Scott
Tutterow, CEO of Century. “These acquisitions continue to advance
Century’s strategy of enhancing scale in existing markets and
expanding its presence in key new geographic regions across the
southeast U.S.,” 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$1.9 billion
in annual revenues and has more than 20,000 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
Subordinate Voting Shares of FirstService trade on the NASDAQ and
the Toronto Stock Exchange under the symbol "FSV". More
information is available at www.firstservice.com.
COMPANY CONTACT:
Jeremy
RakusinCFOFirstService
Corporation(416) 960-9500
FirstService (NASDAQ:FSV)
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