FirstService fills a gap

Article Excerpt

FIRSTSERVICE CORP. $131.32 (Toronto symbol FSV; TSINetwork Rating: Extra Risk) (416-960-9500; www.firstservice.com; Shares outstanding: 34.7 million; Market cap: $4.7 billion; Dividend yield: 0.6%) has agreed to buy Global Restoration Holdings, the parent company of Interstate Restoration and FirstOnSite Restoration. Neither party has yet disclosed a purchase price. FirstOnSite Restoration Limited is the leading independent Canadian disaster restoration services provider, offering remediation, restoration and reconstruction services across the country. In the U.S., it provides large loss and commercial restoration services. FirstService has been looking to expand in the disaster restoration industry. The acquisition of rapidly Global Restoration lets it meet that goal. FirstService is still a hold. hold…

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