TORONTO, Aug. 31, 2017 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV) and (NASDAQ:FSV) (“FirstService”) announced today
that it has further expanded its California Closets company-owned operations with the acquisition of its Atlanta franchise.
Following this transaction, California Closets now has 15 company-owned operations among its 80 total franchised territories. Terms
of the transaction were not disclosed.
“The addition of Atlanta represents another important step in executing our strategy of acquiring California
Closets franchises in certain key markets,” said Charlie Chase, President & CEO of FirstService Brands. “This operation enhances
our company-owned footprint in the eastern U.S. and will provide us with additional future volume and capacity utilization when we
shift production to our recently opened eastern manufacturing center in Grand Rapids, Michigan.”
“We are delighted to add the attractive Atlanta territory, which encompasses a Top 10 metro area within the
U.S., to our company-owned platform,” said Bill Barton, President & CEO of California Closets. “We see significant potential to
capitalize on our industry-leading brand and accelerate growth in this market,” 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 more than US$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".
For the latest news from FirstService Corporation, visit FirstService.com.
COMPANY CONTACTS: Jeremy Rakusin CFO FirstService Corporation (416) 960-9500
