Global Restoration Holdings Completes Four Acquisitions
December 04 2019 - 7:30AM
FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”)
announced today that its operating subsidiary, Global Restoration
Holdings (“Global”), has recently acquired four regional
restoration companies, including Perfection Property Restoration
(“Perfection”), Catastrophe Cleaning & Restoration Co.
(“CATCO”), ASR Property Restoration (“ASR”) and JPL Disaster
Recovery (“JPL”) to join its existing brands, Interstate
Restoration, FirstOnSite Restoration and Super Restoration. These
acquisitions continue to build upon Global’s operational expertise
and further expand its North American geographic footprint and
large loss and commercial recovery & restoration service
capabilities. The leaders of each of these businesses will continue
to run their respective day-to-day operations. Terms of the
transactions were not disclosed.
Founded in 1993, based in Freeport, Illinois and
led by President David Heitman, Perfection is a full-service
restoration provider with six offices in Illinois, Iowa and
Wisconsin. Perfection provides Global with a regional platform in
the Chicago market, the third largest metropolitan area in the
U.S.
CATCO, established in 1981 and headquartered in
St. Louis, Missouri under the leadership of President & CEO,
Michael Hammack, specializes in professional property remediation
and restoration services throughout the greater St. Louis and
Kansas City metro areas. CATCO deepens Global’s presence in the
Midwest U.S. region, together with the addition of Perfection’s
operations.
ASR, founded in 2008 by its CEO, Kirk Prouse,
provides commercial restoration and reconstruction services in
Ventura County, California. ASR’s operations will enhance Global’s
existing southern California footprint, serving the large Los
Angeles metropolitan market and surrounding areas.
Lastly, JPL, founded in 1966, based in Gatineau,
Quebec and led by President, Earl Laforest, is a provider of
restoration and reconstruction services which expands Global
Restoration’s existing Canadian operations, particularly in the
Quebec and Ottawa markets.
“We are delighted to have added these four
businesses and their strong leaders and operators to increase our
presence in highly populated, growing regions across North
America,” said Jeff Johnson, Chairman of Global. “These
transactions are part of our long-term strategy to both expand and
deepen our capabilities across North America so that we are
well-positioned to better serve our local, regional and national
clients with a broader service offering.”
ABOUT FIRSTSERVICE
CORPORATIONFirstService 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$2 billion in
annual revenues and has approximately 22,000 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". More information is
available at www.firstservice.com.
COMPANY CONTACT:
Jeremy RakusinCFOFirstService Corporation(416) 960-9500
FirstService (NASDAQ:FSV)
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