FirstService Expands Commercial Roofing Geographic Footprint in Key Markets

Rhea-AI Summary

FirstService Corporation (TSX/NASDAQ: FSV) has announced that its subsidiary, Roofing Corp of America (RCA), has completed two strategic acquisitions in the U.S. Sun Belt region. The company acquired Springer-Peterson Roofing & Sheet Metal in Lakeland, Florida, and A-1 All American Roofing Co. in San Diego, California.

Springer-Peterson, founded in 1982, is a leading provider of roofing services to commercial customers in Central Florida. A-1 All American, established in 1996, serves various clients including HOAs, hotels, and property managers in California. Both companies' existing management teams will retain minority equity stakes and continue operating their businesses.

These tuck-under acquisitions strengthen RCA's market position in Florida and California, expanding its geographic footprint in key growth markets while adding established commercial customer relationships.

Positive

• Strategic expansion into key U.S. Sun Belt growth markets
• Retention of existing management teams with equity stakes ensures operational continuity
• Addition of established commercial customer relationships in both markets
• Strengthens market leadership position in Southwest Florida and California coast

Negative

• Financial terms of the acquisitions not disclosed
• Integration costs and risks associated with managing two simultaneous acquisitions

Insights

Corporate Strategy Analyst

FirstService strengthens its roofing division with strategic acquisitions in Florida and California, expanding its Sun Belt market presence.

FirstService's subsidiary Roofing Corp of America (RCA) has executed a calculated geographic expansion strategy with two tuck-under acquisitions in high-growth Sun Belt markets. By acquiring Springer-Peterson in Central Florida and A-1 All American in San Diego, RCA is strengthening its position in regions with favorable demographic trends and construction activity.

The retention of existing management teams with minority equity stakes represents a proven integration approach that preserves operational continuity and customer relationships while allowing FirstService to expand its service footprint. This structure typically helps maintain the acquired companies' entrepreneurial culture while giving them access to the parent company's resources.

These acquisitions align with FirstService's established growth playbook of consolidating fragmented service industries through strategic acquisitions. The commercial roofing sector offers recurring revenue opportunities through installation and ongoing maintenance contracts, providing stable cash flows. The focus on "blue chip commercial customers" and institutional clients suggests these acquisitions bring valuable long-term client relationships that typically generate higher-margin work compared to residential projects.

While financial terms weren't disclosed, these transactions likely represent relatively small but strategically important additions that complement RCA's existing operations in Florida and California. The geographic clustering approach enables operational synergies and strengthens RCA's competitive position in these key markets, potentially creating economies of scale in purchasing, equipment utilization, and administrative functions.

Roofing Corp of America Acquires Florida-Based Springer-Peterson and California-Based A-1 All American

TORONTO, Sept. 17, 2025 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) announced today that its subsidiary, Roofing Corp of America (“RCA”), has acquired Springer-Peterson Roofing & Sheet Metal (“Springer-Peterson”) and A-1 All American Roofing Co. (“A-1 All American”). These two tuck-under acquisitions further enhance RCA’s presence in key markets within the U.S. Sun Belt region. The existing management teams of both businesses have retained minority equity interests and will continue to oversee their respective day-to-day operations. Terms of the two transactions were not disclosed.

Founded in 1982 with its head office in Lakeland, Florida, Springer-Peterson is the leading provider of roofing installation and repair services to blue chip commercial customers and local institutions across Central Florida. This transaction builds upon our existing strong leadership position in the Southwest region of the state.

Headquartered in San Diego, California and established in 1996, A-1 All American is a commercial roofing contractor serving a broad range of customers including homeowner associations, hotels, property managers and building consultants. This addition further expands RCA’s market-leading position along the coast of California.

“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, CEO of RCA. “We welcome the leaders and teams of Springer-Peterson and A-1 All American to the RCA family and look forward to working together to serve our clients and drive further growth.”

ABOUT FIRSTSERVICE CORPORATION

FirstService Corporation is a North American leader in the essential outsourced property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America’s largest manager of residential communities; and FirstService Brands, one of North America’s largest providers of essential property services delivered through individually branded company-owned operations and franchise systems.

FirstService generates more than US$5.4 billion in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol “FSV”, and are included in the S&P/TSX 60 index.

For the latest news from FirstService Corporation, visit www.firstservice.com.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements” within the meaning of applicable securities legislation, including, but not limited to, the expected closing of the proposed transaction, the impact of the proposed transaction on FirstService’s business and future financial and operating results and the scope of the expected financing for the proposed transaction. Much of this information can be identified by words such as “expect to,” “expected,” “will,” “estimated” or similar expressions suggesting future outcomes or events. FirstService believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks that: FirstService is unable to promptly and effectively integrate RCA’s businesses; management’s time and attention is diverted on transaction-related issues; FirstService or RCA is unable to retain key personnel; and other risks related to FirstService’s business, including those identified in FirstService’s annual information form for the year ended December 31, 2024 under the heading “Risk factors” (a copy of which may be obtained at www.sedarplus.ca) and Annual Report on Form 40-F filed with the United States Securities and Exchange Commission (a copy of which may be obtained at www.sec.gov), and subsequent filings. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements contained in this press release to reflect subsequent information, events, results or circumstances or otherwise.

COMPANY CONTACTS:

Jeremy Rakusin
CFO
FirstService Corporation
(416) 960-9566

FAQ

What companies did FirstService Corporation (FSV) acquire in September 2025?

FirstService's subsidiary RCA acquired Springer-Peterson Roofing & Sheet Metal in Florida and A-1 All American Roofing Co. in California, expanding its presence in the U.S. Sun Belt region.

How will these acquisitions impact FirstService's (FSV) market presence?

The acquisitions strengthen RCA's leadership position in Southwest Florida and along California's coast, while adding established commercial customer relationships in both markets.

Will the management teams of the acquired companies remain with FirstService (FSV)?

Yes, the existing management teams of both Springer-Peterson and A-1 All American will retain minority equity interests and continue overseeing their respective day-to-day operations.

What types of customers do FirstService's (FSV) new acquisitions serve?

Springer-Peterson serves blue chip commercial customers and local institutions in Central Florida, while A-1 All American serves HOAs, hotels, property managers, and building consultants in California.

When were FirstService's (FSV) newly acquired companies founded?

Springer-Peterson was founded in 1982 in Lakeland, Florida, while A-1 All American was established in 1996 in San Diego, California.