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FirstService (TSX:FSV) subsidiary completes two acquisitions

Real Estate
TSX:FSV
04 March 2021 15:45 (EDT)

FirstService Corporation (FSV) subsidiary Global Restoration has acquired two full-service restoration firms.

The first, Spectrum Restoration Services, is an Edmonton-based full-service emergency response and restoration firm servicing industrial, healthcare and hospitality clients across central Alberta, Saskatchewan and the surrounding areas.

The second, Trilink Restoration Services, is one of Oklahoma’s largest independent commercial and residential restoration services providers.

Trilink’s team provides a full range of emergency restoration services across a diverse client base, including healthcare, hospitality, multifamily and education.

“Both Spectrum and Trilink extend Global’s commercial restoration capabilities and expertise into new markets,” said Jeff Johnson, Global’s Executive Chairman. “We are delighted to have the Spectrum and Trilink teams join our organization to drive further growth.”

Global has now completed nine tuck-under acquisitions across North America since becoming a FirstService subsidiary in mid-2019.

Global’s operations, including recent acquisitions, will be rebranded under a single name, First Onsite, effective March 29, 2021.

FirstService Corporation is a North American leader in the essential outsourced 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 Corporation (FSV) is down 2.64 per cent and is currently trading at C$192.79 per share as of 3:14 pm EST.

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