Century Fire Protection Strengthens Its Geographic Presence
In a strategic move to expand its reach, Century Fire Protection, a subsidiary of FirstService Corporation (NASDAQ: FSV), has recently completed the acquisition of TST Fire Protection, Inc. and Alliance Fire & Safety, both significant players in the fire protection industry based in Utah.
Details of the Acquisition
This expansion into the Western U.S. market marks a notable step for Century Fire Protection. The leadership teams from TST and Alliance will continue overseeing daily operations while retaining minority stakes in the companies. Although the terms of the transaction remain undisclosed, this acquisition underscores Century's commitment to enhancing its service capabilities.
TST Fire Protection
Founded in 1998, TST Fire Protection is a leading fire sprinkler installation company headquartered in Salt Lake City, Utah. This company specializes in the design, installation, inspection, and repair of fire sprinkler systems for a wide range of commercial clients, including large distribution warehouses.
Alliance Fire & Safety
Established in 2014 and located in St. George, Utah, Alliance Fire & Safety focuses on designing and installing fire sprinkler systems alongside other safety measures such as alarms and extinguishers, catering primarily to commercial and industrial clients in the southern region of Utah.
Strategic Growth and Future Potential
Richard Deeb, CEO of Century Fire Protection, expressed enthusiasm about merging these companies into the Century family. He stated, "The addition of these companies establishes a new geographic beachhead, providing Century with an attractive growth platform in the Western U.S." This acquisition enables the companies to offer comprehensive service coverage across Utah and fosters an opportunity for expansion into adjacent markets as they build on their combined capabilities.
About FirstService Corporation
Founded to lead the property services sector in North America, FirstService Corporation operates through two main service platforms—FirstService Residential, the largest residential community management firm in North America, and FirstService Brands, which is among the largest providers of essential property services through franchised and company-owned operations. With a revenue exceeding $5.3 billion annually and a robust workforce of approximately 30,000 employees, FirstService Corporation enjoys a significant market presence and a record of delivering shareholder value.
Company Contact Information
For further inquiries, Jeremy Rakusin, the CFO of FirstService Corporation, is available for contact at (416) 960-9566.
Frequently Asked Questions
What companies did Century Fire Protection acquire?
Century Fire Protection acquired TST Fire Protection, Inc. and Alliance Fire & Safety.
Where are TST Fire Protection and Alliance Fire & Safety located?
TST is based in Salt Lake City, Utah, while Alliance is located in St. George, Utah.
What is the significance of this acquisition for Century Fire Protection?
This acquisition enables Century Fire Protection to expand its operations into Western U.S. markets and enhance service offerings in Utah.
Who leads TST and Alliance after the acquisition?
The existing leadership teams of TST and Alliance will continue managing daily operations post-acquisition.
What is FirstService Corporation known for?
FirstService Corporation is recognized as a leading provider in the property services sector in North America, with a focus on residential community management and essential property services.
