FSV - FirstService Residential Further Enhances Market Leadership Position in Florida | Benzinga
TORONTO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- FirstService Corporation (NASDAQ:FSV) ("FirstService") announced today that FirstService Residential, the North American property management leader, has recently acquired a controlling interest in Rizzetta & Company ("Rizzetta" or the "Company"). William "Bill" Rizzetta, Founder and President, will retain a significant equity stake in the Company and will continue to lead its operations. Terms of the transaction were not disclosed.
Based in Tampa, Florida and founded in 1986, Rizzetta is a leading full-service provider of consulting and property management services to homeowner associations and community development districts ("CDDs") through eight offices across Florida. A CDD is a special-purpose local government district created under Florida state legislation to efficiently manage the local urban infrastructure and specific development services of a new community. The CDD structure provides the ability to finance these developments via tax-free municipal bonds for the benefit of community residents. Rizzetta brings a particular expertise in district management services, which include assisting with community planning, bond issuance, administration, accounting, compliance and day-to-day operations.
"This is a key transaction which broadens our service offering and capabilities as the residential property ...