SOURCE: FirstOnSite Restoration L.P.

FirstOnSite Restoration L.P.

June 01, 2016 15:43 ET

Sale of FirstOnSite Restoration to Interstate Restoration Finalized

Deal Complete; Combined Assets of U.S.-Canadian Companies Rank Second in Continent

MISSISSAUGA, ON--(Marketwired - June 01, 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 the sale of the company to U.S.-based Interstate Restoration has been approved by all parties and finalized. The combined assets of both companies make this the second largest independent restoration company in North America.

"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 joining forces -- on organizing our complementary capacities, and bringing the best restoration services on the continent to our customers on both sides of the border."

The combined resources of FirstOnSite and Interstate will equal nearly 1,250 employees in both countries, with annual revenues of $300 million. FirstOnSite will continue to operate under that name, and will remain headquartered in its current Mississauga, Ontario location, while Interstate Restoration will continue to be based in Denver, Colorado.

"At Interstate, we have built a culture of doing things the right way, having a strong sense of urgency, hiring great people, holding everyone accountable, and having fun along the way," said Stacy Mazur, CEO of Interstate Restoration. "FirstOnSite has rightfully been considered Canada's premiere restoration firm for some time, and has core values that reflect our own. Together as a combined organization we are stronger than ever, and are positioned well for the future."

In an immediate example of the robustness of the new partnership, 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.

About FirstOnSite

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.

With approximately 1,000 employees, 35 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.

About Interstate Restoration

Founded in 1998, Interstate Restoration, LLC, based in Ft. Worth, Texas, is one of the largest emergency restoration and reconstruction service providers for commercial enterprises in the United States. Interstate Restoration specializes in assisting property owners and businesses in recovering from fire, flood, natural and human-caused disasters. With 19 regional offices in the U.S., Interstate Restoration has the scalability to respond to any-sized catastrophe and help people get back to business and back to life quickly and safely. For more information, visit www.interstaterestoration.com, call 800-622-6433 or follow us on Twitter at @InterstateRest.

Contact Information