First Onsite Expands to New York City
May 26 2021 - 7:30AM
FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”)
announced today that its subsidiary, First Onsite Property
Restoration (“First Onsite”), has recently acquired Maxons
Restorations, Inc. (“Maxons”). Damon Gersh, CEO of Maxons, and
other senior executives have retained a minority interest and will
continue to run day-to-day operations. Terms of the transaction
were not disclosed.
Headquartered in Manhattan, Maxons is a leading
provider of commercial emergency response and restoration services
within New York City and the greater New York region. Maxons’
clients include marquee commercial and residential high-rise
buildings across Manhattan and high-end residential properties
throughout the surrounding boroughs.
“Maxons establishes an important foothold for us
in the largest U.S. metropolitan market, with an opportunity to
broaden our client service offerings within the Tri-State region of
New York, New Jersey and Connecticut,” said Stacy Mazur, First
Onsite CEO, U.S. “This transaction is another key step in our
strategy to expand our geographic footprint to better serve our
national commercial accounts. We are delighted to welcome Damon and
his experienced team to our organization as we collectively work to
enhance our service capabilities and grow our business in the
Northeast U.S.,” he concluded.
ABOUT FIRSTSERVICE
CORPORATION
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 generates more than $2.8 billion in
annual revenues and has approximately 24,000 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".
For the latest news from FirstService
Corporation, visit www.FirstService.com
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking information and
forward-looking statements within the meaning of applicable
Canadian and U.S. securities laws. Much of this information can be
identified by words such as “expect to,” “expected,” “will,”
“estimated” or similar expressions suggesting future outcomes or
events. FirstService believes the expectations reflected in such
forward-looking information and statements are reasonable but no
assurance can be given that these expectations will prove to be
correct and such forward-looking information and statements should
not be unduly relied upon. Forward-looking information and
statements are based on current information and expectations that
involve a number of risks and uncertainties, which could cause
actual results or events to differ materially from those
anticipated. These risks include, but are not limited to, the risks
related to FirstService’s business, including those identified in
FirstService’s annual information form for the year ended December
31, 2020 under the heading “Risk factors” (a copy of which may be
obtained at www.sedar.com or as part of FirstService’s Form 40-F at
www.sec.gov). Forward-looking information and statements contained
in this news release are made as of the date hereof and are subject
to change. All forward-looking information and statements in this
news release are qualified by these cautionary statements. Except
as required by applicable law, FirstService undertakes no
obligation to update any forward-looking information and statement,
whether as a result of new information, future events or
otherwise.
COMPANY CONTACT:
Jeremy
RakusinCFOFirstService
Corporation(416) 960-9566
FirstService (NASDAQ:FSV)
Historical Stock Chart
From Jun 2024 to Jul 2024
FirstService (NASDAQ:FSV)
Historical Stock Chart
From Jul 2023 to Jul 2024