FirstService Corporation's Century Fire Protection acquired TST Fire Protection and Alliance Fire & Safety, expanding its presence in Utah.
Quiver AI Summary
FirstService Corporation announced the acquisition of two Utah-based fire protection companies, TST Fire Protection, Inc. and Alliance Fire & Safety, by its subsidiary, Century Fire Protection. The leadership of both TST and Alliance will remain in place and retain minority stakes in their operations. TST specializes in fire sprinkler installation and related services for commercial clients in northern Utah, while Alliance focuses on fire suppression systems for the southern region. This acquisition allows Century to expand its geographic presence and service offerings in the Western U.S., improving client service and facilitating future growth. FirstService is a major player in North America’s property services sector, with substantial annual revenues and a commitment to value creation for shareholders.
Potential Positives
- FirstService Corporation expands its market presence by acquiring TST Fire Protection and Alliance Fire & Safety, establishing a stronger foothold in the Western U.S.
- The acquisition enhances Century Fire Protection's service capabilities and allows for expansion into adjacent markets, potentially driving future growth.
- Both TST and Alliance bring established operational leadership and expertise in fire protection, which could benefit FirstService's overall service offerings.
- The inclusion of TST and Alliance into Century's operations supports FirstService's strategic plan to enhance its competitive edge in the fire protection industry.
Potential Negatives
- Terms of the acquisition were not disclosed, which may raise concerns about the financial implications or valuation of TST and Alliance.
- The announcement lacks detailed information about potential integration challenges between Century and the newly acquired companies, which could impact operational efficiency.
- There is no mention of how the acquisition will immediately impact FirstService's overall financial performance or strategy, leaving uncertainty for investors.
FAQ
What companies did FirstService acquire recently?
FirstService acquired TST Fire Protection, Inc. and Alliance Fire & Safety, both based in Utah.
What services does TST Fire Protection provide?
TST offers fire sprinkler system design, installation, inspection, and repair services for commercial clients in northern Utah.
Where are TST and Alliance located?
TST is based in Salt Lake City, while Alliance is headquartered in St. George, Utah.
How will the acquisition benefit Century Fire Protection?
The acquisition establishes a growth platform in the Western U.S. and enhances service capabilities across Utah.
What is FirstService Corporation known for?
FirstService Corporation is a leader in property services, managing residential communities and providing essential property services across North America.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) announced today that its subsidiary, Century Fire Protection (“Century”), has recently acquired TST Fire Protection, Inc. (“TST”) and Alliance Fire & Safety (“Alliance”), two related fire protection companies based in Utah. The leadership teams of both companies will continue to lead day-to-day operations and will retain minority equity interests. Terms of the transaction were not disclosed.
Founded in 1998 and based in Salt Lake City, Utah, TST is a leading fire sprinkler installation company serving the northern region of Utah. TST provides fire sprinkler system design, installation, inspection and repair services to a wide variety of commercial clients and large-scale warehouse distribution property owners.
Headquartered in St. George, Utah and established in 2014, Alliance designs and installs fire sprinkler and other suppression systems, alarms and extinguishers for commercial and industrial clients in the southern region of Utah.
“The addition of these companies establishes a new geographic beachhead, providing Century with an attractive growth platform in the Western U.S.,” said Richard Deeb, CEO of Century. “TST and Alliance collectively bring comprehensive coverage across the state of Utah, with an opportunity to better serve their clients by adding broader service capabilities and expanding into adjacent markets in the coming years. We welcome the TST and Alliance teams to the Century family and are excited to add them as partners in driving further growth across our combined operations.”
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 company-owned operations and franchise systems.
FirstService generates more than $5.3 billion in annual revenues and has approximately 30,000 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", and are included in the S&P/TSX 60 Index. More information is available at www.firstservice.com.
COMPANY CONTACT:
Jeremy Rakusin
CFO
FirstService Corporation
(416) 960-9566
