Home » Interstate Restoration's Acquisition of FirstOnSite Creates Industry Giant
As a result of the transaction, Interstate Restoration becomes a company of $300 million annual revenues, with nearly 1,250 employees operating in both countries. Both benchmarks establish Ft. Worth-based Interstate Restoration as the second largest independent company in its industry.
“More than our sheer size, our quality of service and our reputation for responsiveness in disaster situations have determined Interstate Restoration’s success,” said Stacy Mazur, CEO of Interstate Restoration. “But our growth is an indication of how positively our clients have responded to us over the years, and it gives us greater resources to address clients’ needs on an even greater scale. By combining FirstOnSite and Interstate Restoration, we will significantly improve our ability to deliver to our clients uninterrupted, best-in-class restoration and reconstruction services.”
Terms of the transaction were not disclosed.
FirstOnSite Restoration is Canada’s largest independent disaster restoration services provider, with 35 branches across the country. FirstOnSite Restoration will continue to operate under the FirstOnSite name, and will remain headquartered in its current Mississauga, Ontario location.
“We are extremely pleased with the completion of the sale, and with the enormous benefits it will bring to both companies moving forward,” said Dave Demos, Chief Executive Officer, FirstOnSite Restoration. “We can now focus on organizing our complementary capacities, and bringing the best restoration services on the continent to our customers on both sides of the border.”
Demos will continue to lead FirstOnSite Restoration in Canada.
In an immediate example of the robustness of the new organization, Interstate Restoration has already sent equipment, fleet and personnel from the U.S. to join FirstOnSite Restoration in its efforts to respond to the fire-ravaged area of Fort McMurray.
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Check out the February 2021 edition of Restoration and Remediation, featuring 7 tips on what you want to get from an M&A deal. Plus, we discuss containment, loss site safety during a pandemic, restoration flashing costs to consider and much more!