Court Approves Sale of FirstOnSite to Interstate Restoration
(MISSISSAUGA, Ontario, May 9, 2016) – FirstOnSite Restoration G.P. Inc. (the general partner of FirstOnSite Restoration L.P. ), Canada's largest independent disaster restoration services provider, today announced that it has received Court approval for the sale to U.S.-based Interstate Restoration LLC, in addition to bank and Monitor endorsements received earlier. With finalized Court approval, FirstOnSite and Interstate Restoration can now move forward with closing the agreement signed on April 21, 2016.
“The Court approval of this sale represents the last major condition to the purchase agreement, and in the process of joining FirstOnSite Restoration and Interstate Restoration,” said Dave Demos, Chief Executive Officer, FirstOnSite Restoration. “We are pleased to see these endorsements, and are moving forward with renewed determination and energy as we prepare to close this deal.”
The purchase of FirstOnSite by Interstate Restoration comes at a time of increased activity within both companies. FirstOnSite Restoration has mobilized its Catastrophe teams from across the country, including equipment, fleet and staff in preparation of providing disaster restoration services to those affected by the wildfires in Fort McMurray. In light of Court approval of the sale, Interstate Restoration professionals and equipment will also be made available to FirstOnSite, further augmenting restoration and remediation capabilities in Fort McMurray, as needed.
“The sale of FirstOnSite Restoration to Interstate Restoration represents the strengthening of two of North America's foremost disaster restoration brands,” said Stacy Mazur, Chief Executive Office, Interstate Restoration LLC. “We are confident that joining forces with FirstOnSite will present new and exciting opportunities to build on our client service offerings and we look forward to continued industry success partnered with FirstOnSite.”
FirstOnSite has set up a dedicated, centrally-managed claims reporting process for Fort McMurray: FortMacClaims@firstonsite.ca.
FirstOnSite Restoration L.P. is the leading independent Canadian disaster restoration services provider, providing remediation, restoration and reconstruction services nationwide, and for the U.S. large loss and commercial market.
FirstOnSite's organizational structure is distinguished within the industry as it provides degrees of speed, scope and scale, including abilities to embrace innovations and technologies that help meet the unique needs of its customers. With approximately 1,000 employees, 38 locations, 24/7 emergency service and a commitment to customer service, FirstOnSite proudly serves the residential, commercial and industrial sectors. FirstOnSite has been a recipient of the Deloitte Best Managed Company award since 2012, and is an approved vendor for many leading insurance companies and commercial clients. For more information visit: www.firstonsite.ca or call 1.877.778. 6731, and follow @firstonsite on Twitter at www.twitter.com/firstonsite.
FirstOnSite: Colin Nekolaichuk, 416-640-5525 ext. 253
Interstate Restoration: Steve Caulk, 303-410-4971