FirstService Expands California Closets Company-Owned Platform
August 31 2017 - 7:30AM
FirstService Corporation (TSX:FSV) and (NASDAQ:FSV)
(“FirstService”) announced today that it has further expanded its
California Closets company-owned operations with the acquisition of
its Atlanta franchise. Following this transaction, California
Closets now has 15 company-owned operations among its 80 total
franchised territories. Terms of the transaction were not
disclosed.
“The addition of Atlanta represents another
important step in executing our strategy of acquiring California
Closets franchises in certain key markets,” said Charlie Chase,
President & CEO of FirstService Brands. “This operation
enhances our company-owned footprint in the eastern U.S. and will
provide us with additional future volume and capacity utilization
when we shift production to our recently opened eastern
manufacturing center in Grand Rapids, Michigan.”
“We are delighted to add the attractive Atlanta
territory, which encompasses a Top 10 metro area within the U.S.,
to our company-owned platform,” said Bill Barton, President &
CEO of California Closets. “We see significant potential to
capitalize on our industry-leading brand and accelerate growth in
this market,” he concluded.
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$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.
COMPANY CONTACTS:
Jeremy Rakusin
CFO
FirstService Corporation
(416) 960-9500
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