First Onsite Expands Presence Within Key Tri-State Region
September 14 2021 - 7:30AM
FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”)
announced today that its subsidiary, First Onsite Property
Restoration (“First Onsite”), has recently acquired Insurance
Restoration Specialists (“IRS”). Terms of the transaction were not
disclosed.
Founded in 1985 and headquartered near Newark,
New Jersey, IRS is one of the largest independently owned
commercial restoration service providers throughout New Jersey,
while also serving its clients within the New York City and
Philadelphia metropolitan areas. IRS provides emergency mitigation
and reconstruction services to a broad range of institutional
customers in the insurance, education, healthcare and government
sectors, with particular expertise in environmental remediation,
facility infection control, and HVAC cleaning and inspection.
“This transaction follows on the heels of our
prior acquisition of Manhattan-based Maxons Restorations. The
addition of IRS provides us with greater capabilities to serve the
marquee New York City market and the broader Tri-State region of
New York, New Jersey and Connecticut,” said Stacy Mazur, First
Onsite CEO, U.S. “The strong, collaborative leadership at IRS,
combined with their deep customer relationships and environmental
experience in key practice areas, provides a seamless fit with our
operations. We look forward to having them join the First Onsite
team,” 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 $3.0 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
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