TORONTO - FirstService Brands, the parent company of California Closets, continued to expand its company-owned operations with the acquisition of several California Closets and Paul Davis Restoration (PDR) franchises.
“We continue to make steady progress with our company-owned strategies at Paul Davis and California Closets,” said Charlie Chase, CEO of FirstService Brands. “These tuck-under acquisitions are consistent with our objective to enhance our presence in major markets which offer significant incremental growth opportunities,” he concluded.
California Closets acquired a franchise within the Houston metropolitan area, which represents the fifth largest market in the U.S. providing significant future growth potential, the company said. Following this acquisition, the company now has 17 company-owned operations out of 80 overall locations.
PDR also recently completed two acquisitions which broaden the geographic footprint of its company-owned restoration services. The addition of one of PDR’s leading Kentucky-based territories provides additional service coverage and capabilities between the Eastern and Midwest regions of its company-owned operations. The acquisition of the Seattle franchise adds a presence in another major metropolitan market which will serve as the foundation for a new regional platform on the U.S. west coast. Including these two acquisitions, there are currently a total of eight PDR company-owned operations.
FirstService Brands is one of North America's largest providers of property services delivered through individually branded franchise systems and company-owned operations. FirstService generates more than $1.8 billion in annual revenues and has more than 19,000 employees across North America.
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