FirstService Corporation (TSX:FSV)

Retail

First Service Corporation is engaged in the essential property services sector and provides real estate services to commercial, residential and institutional clients.

The company operates through two platforms: FirstService Residential and FirstService Brands.

FirstService Residential
It manages over 8,500 residential properties in North America. The services and product offerings include:
· Property management
· Condominium Association
· Single-Family Home
· Commercial association management
· Master-planned community

FirstService Brands
A subsidiary of First Service Corporation, FirstService Brands provides property services through company-owned operations and individually branded franchise systems to residential and commercial customers.
It operates through numerous company-owned locations and 1,400 franchises across North America.
FirstService Brands' platform of companies include:
· California Closets
· Floor Covering International
· Paul Davis Restoration
· Pillar To Post Home Inspectors
· TLS


The company says its business segments rely on leveraging significant scale advantages, maintaining strong cash flow with modest capital expenditure, following disciplined tuck-under acquisitions to ensure returns on invested capital.

Headquartered in Toronto, founder Jay Hennick set up FirstService with a Toronto-based commercial swimming pool management business in 1989.

It acquired the College Pro Painters franchise system and established its second wing, FirstService Brands, in 1989.

The Canadian firm went public in 1993, with a listing on the Toronto Stock Exchange. It also began trading on the NASDAQ platform in 1995.

After a spin-off transaction on June 1, 2015, the company separated from Colliers International Group Inc, a commercial real estate and investment management firm. As a result, FirstService became an independent, public company.

FirstService acquired Century Fire Protection in 2016. Century Fire Protection, a US-based firm, provides complete fire protection solutions to industrial, commercial, institutional and residential clients.

FirstService claims that its top line grew by 15 per cent and delivered organic growth of 4 per cent in 2020.

With the acquisition of Aegis Fire Protection in Kansas City and Cornet Fire in Washington, DC, the company reportedly expanded its geographic footprint.

Amid the COVID-19 pandemic, the company reportedly provided various health and wellness program to its customers and clients.

Contact Information

company address 1255 Bay Street Suite 600 Toronto, Ontario Canada, M5R 2A9

company phone(416) 960-9566

company email[email protected]

company websitehttps://www.firstservice.com

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