TORONTO, April 12, 2017 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV) (NASDAQ:FSV) (“FirstService”) today announced that it has added another market-leading franchise to its Paul Davis Restoration (“PDR”) company-owned operations with the acquisition of PDR of Omaha Nebraska. The acquisition marks the fifth addition to PDR’s rapidly growing company-owned operations. Chris Mangan, President, and Kari Mangan, General Manager, will remain partners in the business and continue to lead day-to-day operations. Terms of the transaction were not disclosed.
“We are delighted to be joining PDR’s company-owned platform,” said Chris Mangan. “Our industry is undergoing rapid change and consolidation. The strategic expertise, resources and industry-leading technology gained through partnering with FirstService will help accelerate our growth and better position us to service the increasingly complex needs of our clients.”
“Consistent with our company-owned strategy, the addition of PDR Omaha increases the scale of our company-owned operations and expands our geographic footprint by establishing a new regional platform in the U.S. Midwest market,” said Rich Wilson, CEO of Paul Davis Restoration. “Chris and Kari have a collective 40 years of experience with Paul Davis and are among the most well-respected leaders across our network. We look forward to working closely with them as we continue to expand our geographic coverage and enhance the value of our service offering to our key insurance and corporate 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 $1.5 billion in annual revenues and has more than 17,000 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".
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Jeremy Rakusin CFO FirstService Corporation (416) 960-9500