FSV - FirstService Expands Commercial Roofing Platform | Benzinga
TORONTO, June 06, 2024 (GLOBE NEWSWIRE) -- FirstService Corporation (NASDAQ:FSV) ("FirstService") announced today that its subsidiary, Roofing Corp of America ("RCA"), has acquired Crowther Roofing and Cooling ("Crowther") and Hamilton Roofing ("Hamilton"). The additions of Crowther and Hamilton provide RCA with a strong new presence in the important Florida market and will collectively add more than $150 million in annual revenues. The existing management teams of both businesses have retained minority equity interests and will continue to oversee their respective day-to-day operations. Terms of the two transactions were not disclosed.
Headquartered in Fort Myers, Florida and founded in 1974, Crowther is the leading roofing services provider in Southwest Florida, with a particular focus on the commercial end market. Crowther also provides complementary HVAC maintenance and mechanical contracting services. Crowther operates from three regional branch locations and employs approximately 750 roofing installation and service technicians.
Established in 1983 with its head office in Malabar, Florida, Hamilton is the leading provider of commercial roofing services across Eastern Florida's Space Coast. Hamilton has developed long-established relationships with major blue-chip commercial clients spanning the government, aerospace and education sectors.
"Florida is one of the largest roofing markets in North America and a strategic growth priority for us. These two transactions provide RCA with an immediate significant presence ...