Business
FirstService Acquires Premier Communities
FirstService Acquires Premier Communities.
About this update from Firstservice Corp
[{"type":"text","content":"\n\n\n\nAcquisition of leading Residential Property Management company in Dallas,\n\n\nTexas adds breadth to North American leader\n\n\nTORONTO, June 14 /CNW/ - FirstService Corporation (NASDAQ: FSRV;\nTSX: FSV) announced today that it has further increased the size and breadth\nof its rapidly growing residential property management business with the\nacquisition of an 80 per cent interest in Premier Communities Management\nCompany, one of Dallas's largest and most respected providers of residential\nproperty management services and consulting services. Cindy Huey, Founder and\nCEO will retain the balance of the equity and will continue to manage\nday-to-day operations. Terms of the transaction were not disclosed.\n\n\n"Establishing a market-leading position in Dallas has been a strategic\npriority for FirstService and our new partnership with Premier Communities is\na major step forward as we accelerate our growth across the southern United\nStates," said Gene Gomberg, CEO of FirstService Residential Property\nManagement. "Premier Communities has an enviable leadership position in the\nmarket and a number of excellent long-term customer relationships that the\nFirstService team plans to accelerate through new service and product\nofferings. We look forward to working with Cindy and her excellent management\nteam."\n\n\nFounded in 1994, Premier Communities contracts with more than 150\ncommunity associations representing over 55,000 residential homes in the\ngreater Dallas, Texas market. With the addition of Premier Communities,\nFirstService's residential property management division extends its position\nas the leading industry player in the management of luxury hi-rise, active\nadult and large-scale homeowner associations in the United States, with more\nthan 3,700 properties, representing over 800,000 residences. Additional\ninformation on Premier Communities can be found on their website at\nwww.premiercommunities.net\n\n\n"I am very excited about our prospects for both accelerating our internal\ngrowth and pursuing acquisitions to expand our market position with the\nsupport of FirstService," said Cindy Huey, Founder and Chief Executive Officer\nof Premier Communities. "Obtaining access to programs, resources and growth\ncapital from the largest residential property management company in ...