Mr. Jeremy Rakusin reports
FIRSTSERVICE EXPANDS COMMERCIAL ROOFING GEOGRAPHIC FOOTPRINT IN KEY MARKETS
FirstService Corp.'s subsidiary, Roofing Corp. of America, has acquired Springer-Peterson Roofing & Sheet Metal and A-1 All American Roofing Co. These two tuck-under acquisitions further enhance RCA's presence in key markets within the U.S. Sunbelt region. The existing management teams of both businesses have retained minority equity interests and will continue to oversee their respective day-to-day operations. Terms of the two transactions were not disclosed.
Founded in 1982 with its head office in Lakeland, Fla., Springer-Peterson is the leading provider of roofing installation and repair services to blue-chip commercial customers and local institutions across central Florida. This transaction builds upon the company's existing strong leadership position in the southwestern region of the state.
Headquartered in San Diego, Calif., and established in 1996, A-1 All American is a commercial roofing contractor serving a broad range of customers including homeowner associations, hotels, property managers and building consultants. This addition further expands RCA's market-leading position along the coast of California.
"These two transactions further bolster RCA's presence in two large and growing roofing markets. In addition to expanding our geographic footprint in Florida and California, both companies bring a roster of long-standing commercial customers," said Randy Korach, chief executive officer of RCA. "We welcome the leaders and teams of Springer-Peterson and A-1 All American to the RCA family and look forward to working together to serve our clients and drive further growth."
About FirstService Corp.
FirstService is a North American leader in the essential outsourced property service 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 company-owned operations and franchise systems.
FirstService generates more than $5.4-billion (U.S.) in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term record of creating value and superior returns for shareholders. The common shares of FirstService trade on Nasdaq and the Toronto Stock Exchange under the symbol FSV, and are included in the S&P/TSX 60 index.
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