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TORONTO - FirstService Corporation (TSX:FSV) (NASDAQ:FSV), a North American leader in property services, has expanded its operations with the acquisition of two Utah-based fire protection companies, TST Fire Protection, Inc. and Alliance Fire & Safety. The transactions, which were announced today, bring new geographic coverage in the Western U.S. for FirstService’s subsidiary, Century Fire Protection.
TST Fire Protection, founded in 1998 and headquartered in Salt Lake City, is a prominent fire sprinkler installation company in northern Utah. They offer a range of services including design, installation, inspection, and repair for various commercial clients and warehouse distribution owners. Alliance Fire & Safety, established in 2014 and based in St. George, specializes in fire sprinkler systems, alarms, and extinguishers for commercial and industrial clients in southern Utah.
The leadership teams of TST and Alliance will stay at the helm of their respective companies and retain minority equity interests, ensuring continuity in management and operations.
Richard Deeb, CEO of Century Fire Protection, sees the acquisitions as an opportunity for growth, providing a platform to expand services and reach in the Western U.S. The integration of TST and Alliance is expected to offer comprehensive coverage across Utah and enhance client services by broadening capabilities and moving into adjacent markets.
FirstService Corporation, with annual revenues exceeding $5.3 billion and about 30,000 employees in North America, operates through two main service platforms: FirstService Residential and FirstService Brands. The company has a history of creating value for shareholders and is part of the S&P/TSX 60 Index.
Details of the transactions were not disclosed. This expansion marks a strategic move for FirstService as it continues to grow its presence in the property services sector across North America. The company currently trades near its InvestingPro Fair Value estimate, with a strong current ratio of 1.94 indicating solid financial flexibility for future acquisitions. The information in this article is based on a press release statement from FirstService Corporation.
In other recent news, FirstService Corporation has announced a quarterly cash dividend of $0.275 per share, payable to shareholders on July 8, 2025, for those on record as of June 30, 2025. The company, known for its extensive operations in North America, reported annual revenues exceeding $5.3 billion, employing approximately 30,000 people. In addition, FirstService held its annual shareholders’ meeting where eight director nominees were elected, with Yousry Bissada and Elizabeth Carducci receiving over 98% of the votes. Jay S. Hennick, the nominee with the lowest support, still secured 89.257% of the votes, indicating a strong endorsement from shareholders. PricewaterhouseCoopers LLP was approved as the auditor for the upcoming year, and a non-binding advisory resolution on executive compensation was passed. These developments reflect FirstService’s ongoing commitment to shareholder value, supported by a management team with significant insider ownership. The company’s shares are traded on both NASDAQ and the Toronto Stock Exchange.
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