FirstService Corporation announced that its subsidiary, Roofing Corp of America (RCA), has acquired Schefers Roofing to expand its commercial roofing footprint into the Kansas City market and strengthen its presence in the Midwest U.S. region. The acquisition adds a full-service commercial roofing contractor to RCA's platform, enhancing its service capabilities across Missouri, Northern Arkansas, and surrounding areas. Terms of the transaction were not disclosed.

The existing management team of Schefers has retained a minority equity interest and will continue to oversee day-to-day operations, ensuring continuity for customers. Schefers, founded in 1995 and headquartered in Kansas City, Missouri, provides installation, restoration, preventative maintenance, and leak repair services.

Strategic Expansion

"The addition of Schefers expands RCA's geographic footprint into the Kansas City market and further strengthens our presence in the Midwest U.S. region," said Randy Korach, CEO of RCA. "We are pleased to add a highly respected market leader to our growing commercial roofing platform and welcome the entire Schefers team to our organization."

The acquisition aligns with FirstService's strategy to grow its property services sector through targeted acquisitions. The addition of Schefers reinforces RCA's position as a market leader in the commercial roofing sector.

FirstService Overview

FirstService Corporation operates as a North American leader in the property services sector through two primary platforms: FirstService Residential, the largest manager of residential communities in North America, and FirstService Brands, a major provider of essential property services via company-owned operations and franchise systems. The company generates more than $5.5 billion in annual revenues and employs approximately 30,000 people across North America.

Key Details

FirstService's common shares trade on the NASDAQ and Toronto Stock Exchange under the symbol "FSV" and are included in the S&P/TSX 60 Index.