Century Fire Protection Broadens Geographic Footprint
December 09 2020 - 6:30AM
FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”)
announced today that its subsidiary, Century Fire Protection
(“Century”), has recently acquired Aegis Fire Protection, LLC
(“Aegis”) and Cornet, Inc. (“Cornet”). 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.
Aegis and Cornet are both full-service fire
protection companies specializing in the installation, service and
inspection of fire sprinkler, alarm and suppression systems.
Founded in 2007 and headquartered in Kansas City, Aegis is a
market-leading player in the Kansas City metropolitan area and
surrounding regions within the states of Kansas and Missouri.
Cornet, established in 2005 and based in Chantilly, Virginia,
serves the Washington, D.C. market, the sixth largest metropolitan
area in the United States.
“These acquisitions continue to advance
Century’s strategy of expanding its geographic footprint into key
new markets which are adjacent to our existing operations,” said
Scott Tutterow, CEO of Century. “We are delighted to be partnering
with the leaders of Aegis and Cornet to deepen our sprinkler and
alarm capabilities and accelerate our growth in these services,” he
concluded.
ABOUT FIRSTSERVICE
CORPORATION
FirstService Corporation is a North
American leader in the essential outsourced 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 $2.6 billion in
annual revenues and has approximately 24,000 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 the NASDAQ and the Toronto
Stock Exchange under the symbol "FSV".
For the latest news from FirstService
Corporation, visit www.FirstService.com
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking information and
forward-looking statements within the meaning of applicable
Canadian and U.S. securities laws. Much of this information can be
identified by words such as “expect to,” “expected,” “will,”
“estimated” or similar expressions suggesting future outcomes or
events. FirstService believes the expectations reflected in such
forward-looking information and statements are reasonable but no
assurance can be given that these expectations will prove to be
correct and such forward-looking information and statements should
not be unduly relied upon. Forward-looking information and
statements are based on current information and expectations that
involve a number of risks and uncertainties, which could cause
actual results or events to differ materially from those
anticipated. These risks include, but are not limited to, the risks
related to FirstService’s business, including those identified in
FirstService’s annual information form for the year ended December
31, 2019 under the heading “Risk factors” (a copy of which may be
obtained at www.sedar.com or as part of FirstService’s Form 40-F at
www.sec.gov). Forward-looking information and statements contained
in this news release are made as of the date hereof and are subject
to change. All forward-looking information and statements in this
news release are qualified by these cautionary statements. Except
as required by applicable law, FirstService undertakes no
obligation to update any forward-looking information and statement,
whether as a result of new information, future events or
otherwise.
COMPANY
CONTACT:
Jeremy
RakusinCFOFirstService
Corporation(416) 960-9566
FirstService (TSX:FSV)
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