Acquisition by FirstService Corp

FORT WORTH, Texas, May 23, 2019 (GLOBE NEWSWIRE) — Global Restoration Holdings, LLC, the parent company to FIRST ONSITE, announced today the signing of a definitive agreement to be acquired by the property services firm FirstService Corporation.

The new partnership strengthens the positions of FIRST ONSITE a North American leader in the disaster restoration services sector. The partnership also allows for compelling growth opportunities, and it continues to drive operational specialization across the enterprises in both the short and long term.

“Our team is excited to become part of the FirstService family,” said Jeff Johnson, executive chairman of Global Restoration. “The cultural alignment and shared vision allow our team to accelerate our growth as we deliver daily, world-class service to customers throughout North America.”

“This transaction represents another important milestone for our company,” said Stacy Mazur, chief executive officer of FIRST ONSITE. “We chose FirstService because they share our vision for strategic growth and our desire to continue to provide an exceptional experience for our team and clients.”

FirstOnSite Chief Executive Officer Dave Demos cited FirstService’s leadership in the property services sector as another factor in their selection decision.

“They understand our business and our customers because their business lines are focused on managing properties, as well as providing services to properties and property owners,” Demos said. “We speak the same language and we’re both focused on delivering results for our customers.”

“We are delighted to be partnering with Global Restoration,” said Scott Patterson, president and CEO of FirstService. “We look forward to dedicating all necessary resources in support of the team to facilitate the future growth of the company for many years to come.”

The agreement was signed by FirstService Corporation and Global Restoration Holdings, LLC. The transaction is subject to customary closing conditions, including regulatory approvals, and the expected closing is mid-year. Global Restoration is being sold by Delos Capital, a lower middle market private equity firm. Houlihan Lokey is acting as financial advisor and Goodwin Proctor as legal counsel to Global Restoration. Fogler, Rubinoff LLP and Ferrante & Associates acted as legal counsel to FirstService.

About Interstate Restoration

Fondée en 1998, Interstate Restoration, LLC, basée à Ft. Worth, Texas, est l'un des plus grands fournisseurs de services de restauration et de reconstruction d'urgence pour les entreprises commerciales en Amérique du Nord. Dans 2016, Interstate a acquis Restauration PremièreAction, le principal fournisseur canadien indépendant de services de restauration après sinistre. Ensemble, les deux sociétés constituent le deuxième fournisseur indépendant de services de restauration et de reconstruction en Amérique du Nord. Avec environ 1 400 employés, Interstate restauration et PremièreAction aident les propriétaires et les entreprises à se remettre d'un incendie, d'une inondation, de catastrophes naturelles et d'origine humaine. Pour en savoir davantage sur Interstate Restoration, visitez le site Web firstonsite.com. appelez 800 622-6433 ou sur Twitter à @InterstateRest.

About FirstOnSite Restoration

Restauration PremièreAction Limited est le principal fournisseur canadien indépendant de services de restauration après sinistre, offrant des services de remise en état, de restauration et de reconstruction à l’échelle nationale, ainsi que pour le marché américain des sinistres majeurs et du marché commercial. Avec plus de 35 emplacements, un service d’urgence 24/7 et un engagement envers le service à la clientèle, PremièreAction dessert fièrement les secteurs résidentiel, commercial et industriel. En mai 2016, PremièreAction a uni ses forces avec Interstate Restoration, une société américaine, élargissant ainsi sa base de ressources et son offre de services à la clientèle, devenant collectivement le deuxième plus grand fournisseur de services de restauration en Amérique du Nord. Pour plus d’informations, visitez le site : firstonsite.ca ou appelez au (877) 778-6731 ou sur Twitter à @firstonsite.

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 approximately US $2 billion in annual revenues and has more than 20,000 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 NASDAQ and the Toronto Stock Exchange under the symbol “FSV”. For the latest news from FirstService Corporation, visit firstservice.com.

About Delos Capital

Delos Capital, founded in 2013, is a lower middle market private equity firm specializing in management buyouts, recapitalizations, and growth investments. For more information, visit www.deloscap.com.