×

FirstService Brands Expands Company-Owned Operations into New York and Connecticut

TORONTO, Aug. 15, 2016 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV) (NASDAQ:FSV) (“FirstService”) today announced that it has added another market-leading franchise to its FirstService Brands company-owned operations through the acquisition of Paul Davis Restoration (“PDR”) of Fairfield and Westchester. The acquisition marks the third addition to PDR’s growing company-owned operations, joining Central Pennsylvania and recently acquired North Florida. Edward and Nancy Nardella will remain in their respective roles as President and Vice President and continue to lead the day-to-day operations, reporting to Steve Rotay, President of the Northeast Region of PDR’s company-owned operations. Terms of the transaction were not disclosed.

“Consistent with our company-owned strategy, this acquisition adds further scale to our Northeast Region and expands our geographic footprint into the important New York and Connecticut markets,” said Rich Wilson, CEO of Paul Davis Restoration. “Ed and Nancy have been with Paul Davis for over two decades and are two of the most highly-regarded operators within our system. We look forward to working even more closely with them as we continue to enhance the delivery and value of our service offering to our insurance and commercial 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 more than $1.3 billion in annual revenues and has more than 16,000 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 CONTACT: Jeremy Rakusin CFO FirstService Corporation (416) 960-9500

Source: FirstService Corporation