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On December 20, 2022, FirstService Corporation announced three significant acquisitions through its FirstService Brands division. First Onsite Restoration acquired New Orleans-based Emergency Restoration, Inc., established in 2003. This firm specializes in emergency water mitigation and property restoration in New Orleans, serving an array of clients from school boards to insurance brokers. Meanwhile, Paul Davis Restoration integrated a franchised operation from Salt Lake City, Utah, and Las Vegas, Nevada. Founded in 2014, it stands as Salt Lake City's top restoration service provider. This move aligns with the company's objective to selectively assimilate franchises from its vast 330-location North American network. Additionally, California Closets expanded its reach by annexing a franchised territory in Portland, Oregon, making it 21 company-owned operations out of 80 total locations. This step aims to tap into markets with high growth potential. Scott Patterson, FirstService's CEO, emphasized that these acquisitions are strategic endeavors to enhance their capabilities and reach. However, transaction details remain undisclosed.
Parties
Company
Paul Davis Restoration
Company
Emergency Restoration Inc
Company
California Closets
Company
FirstService Corporation
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
20 December 2022