FirstService Expands Paul Davis Company-Owned Operations
April 12 2017 - 7:30AM
FirstService Corporation (TSX:FSV) (NASDAQ:FSV) (“FirstService”)
today announced that it has added another market-leading franchise
to its Paul Davis Restoration (“PDR”) company-owned operations with
the acquisition of PDR of Omaha Nebraska. The acquisition marks the
fifth addition to PDR’s rapidly growing company-owned operations.
Chris Mangan, President, and Kari Mangan, General Manager, will
remain partners in the business and continue to lead day-to-day
operations. Terms of the transaction were not disclosed.
“We are delighted to be joining PDR’s
company-owned platform,” said Chris Mangan. “Our industry is
undergoing rapid change and consolidation. The strategic expertise,
resources and industry-leading technology gained through partnering
with FirstService will help accelerate our growth and better
position us to service the increasingly complex needs of our
clients.”
“Consistent with our company-owned strategy, the
addition of PDR Omaha increases the scale of our company-owned
operations and expands our geographic footprint by establishing a
new regional platform in the U.S. Midwest market,” said Rich
Wilson, CEO of Paul Davis Restoration. “Chris and Kari have a
collective 40 years of experience with Paul Davis and are among the
most well-respected leaders across our network. We look forward to
working closely with them as we continue to expand our geographic
coverage and enhance the value of our service offering to our key
insurance and corporate clients across North America,” 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 $1.5 billion in annual
revenues and has more than 17,000 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".
For the latest news from FirstService Corporation, visit
FirstService.com
Jeremy Rakusin
CFO
FirstService Corporation
(416) 960-9500
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