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FirstService Corporation

TSX Exchange | Aug 23, 2019, 5:12 PM EDT | Real-time price

FSV $ 132.51 RT
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Century Fire Protection Completes Two Acquisitions

Adds Advantage Fire Sprinkler and Chief Fire Systems

TORONTO, April 16, 2019 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) announced today that its subsidiary, Century Fire Protection (“Century”), has recently acquired Advantage Fire Sprinkler Company, Inc. (“Advantage Fire”) and Chief Fire Systems, Inc. (“Chief Fire”). The leaders of both businesses have retained minority equity interests and will continue to run day-to-day operations. Terms of the transactions were not disclosed. 

Founded in 1992, Advantage Fire is a full-service fire protection firm serving the metro Atlanta and northern Georgia markets. Advantage Fire’s particular strength in commercial sprinkler installation provides Century with increased scale in its home Atlanta market.

Chief Fire, established in 2005 and headquartered in Houston, Texas, specializes in the installation of fire sprinkler systems. With the addition of Chief Fire, Century establishes a presence in the strategically important Houston metropolitan area, the fourth largest in the U.S.

“We are delighted to be adding both businesses and partnering with their strong operators to drive further growth in our fire sprinkler suppression capabilities,” said Scott Tutterow, CEO of Century. “These acquisitions continue to advance Century’s strategy of enhancing scale in existing markets and expanding its presence in key new geographic regions across the southeast U.S.,” 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 US$1.9 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 Subordinate Voting Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV". More information is available at www.firstservice.com.

COMPANY CONTACT:

Jeremy Rakusin
CFO
FirstService Corporation
(416) 960-9500

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