Interstate / Paul Davis / FirstOnSiteFirstService Corporation

overview

FIRSTSERVICE CORPORATION (NASDAQ/TSX:FSV)

Founded in 1989, FirstService Corporation (“FSV”) is the North American leader in outsourced essential property services.

FSV is comprised of two industry-leading platforms:

  • FirstService Residential is North America’s largest manager of residential communities, managing 8,500 properties representing 1.7M residential units and administering client expenditures of $8B annually.
  • FirstService Brands provides seven core branded essential property services to residential and commercial customers through corporate operations and franchised systems. It has over 1,500 franchisees and services more than 500,000 customers.

acquisition strategy & capabilities

Over the past 30 years, FSV has enhanced its organic growth through a disciplined acquisition program. Its streamlined acquisition process ensures a smooth transition for independent business owners, their employees and clients.

Unlike typical financial investors or private equity firms, FSV does not have a fixed time investment horizon. It looks to buy and create value over the long term.

FSV is actively looking for acquisitions for its two North American property restoration service providers: (1) FirstOnSite, the new combined brand of Denver-based Interstate Restoration and Toronto-based FirstOnSite (US and Canadian commercial), and (2) Paul Davis Restoration (US and Canadian residential).

FSV’s objectives are to (1) become the North American leader in property restoration service providers; and (2) expand its footprint to better service its national accounts and insurance carriers.FSV has retained FirePower Capital to identify and engage with new acquisition opportunities.

current brands

First Onsite logo 300x125

First Onsite

Locations
80

Headquarters
(US) Forth Worth, TX
(CAN) Mississauga, ON

Paul Davis web 300x52

Paul Davis

Franchisees
313

Company Owned
11

Headquarters
Jacksonville, FL

what fsv looks for

SERVICES OFFERED

  • For FirstOnSite: Full-service restoration and adjacent services (e.g. environmental, roofing, industrial cleaning, asbestos, etc.) with the ability to service commercial customers and respond to large-loss/complex claims.
  • For Paul Davis: Full-service restoration with a robust residential customer base and strong relationships with national and local insurance carriers.

MANAGEMENT & CULTURE

  • Strong leadership teams seeking to join a fast-growing organization with a winning culture
  • Company vision and culture that would benefit from gaining access to FSV’s resources (capital, scale, infrastructure and a vast North American client network)

FINANCIALS & OUTLOOK

  • Minimum annual revenue of $5 million
  • Profitable, with a 10%+ EBITDA margins preferred

GEOGRAPHY

  • Densely populated and/​or fast growing metropolitan areas

ACQUISITION STRUCTURE

  • Flexible structures allowing for partnerships or outright exits
  • Owner equity retention of up to 30% of company value

This disclaimer shall apply to FirePower Corp Dev Inc., its partners, employees and agents (collectively “FirePower”). The information contained in this document (the “Information”) is for informational purposes only. FirePower makes no representations or warranties as to the accuracy or completeness of the Information. FirePower does not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by the recipient in reliance on the Information or for any decision based on it. The Information cannot be relied upon to cover the recipient’s specific situation and accordingly the recipient should not act or refrain from acting upon the Information, without obtaining specific professional advice or performing such due diligence steps as the recipient may solely deem necessary. The information may change at any time without notice or obligation to the recipient by FirePower. NEITHER THIS DOCUMENT NOR ITS DELIVERY TO AN INTERESTED PARTY SHALL CONSTITUTE OR BE CONSTRUED TO BE AN OFFER TO SELL ANY SECURITIES.

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