FirstService buys Springer-Peterson, A-1 All American

Executive Summary

• FirstService Corp.'s subsidiary, Roofing Corp. of America (RCA), has acquired two commercial roofing companies: Springer-Peterson Roofing & Sheet Metal and A-1 All American Roofing Co.
• The acquisitions are designed to expand RCA's geographic footprint and market leadership in key U.S. Sunbelt markets, specifically central Florida and coastal California.
• Existing management teams from both acquired entities have retained minority equity interests and will continue to manage day-to-day operations.

Key Details

• Acquired Entities:
  • Springer-Peterson Roofing & Sheet Metal: Founded in 1982, headquartered in Lakeland, Fla. It is a leading provider of roofing installation and repair services to blue-chip commercial customers and local institutions in central Florida.
  • A-1 All American Roofing Co.: Established in 1996, headquartered in San Diego, Calif. It serves a broad range of customers including homeowner associations, hotels, property managers, and building consultants.
• Strategic Impact: The transactions enhance RCA's presence in the U.S. Sunbelt region, bolstering its position in large and growing roofing markets in Florida and California.
• Transaction Terms: Specific financial terms were not disclosed.
• Management Structure: Existing management teams of both businesses retained minority equity interests and will continue to oversee their respective day-to-day operations.

Notable Quotes

• "These two transactions further bolster RCA's presence in two large and growing roofing markets. In addition to expanding our geographic footprint in Florida and California, both companies bring a roster of long-standing commercial customers," said Randy Korach, chief executive officer of RCA.