Court approves Interstate Restoration’s purchase of Canada’s largest restoration company
FT. WORTH, TX — A court has approved the sell of Canada’s FirstOnSite Restoration G.P. Inc. to Interstate Restoration LLC, allowing the transaction to move forward with closing that began on April 21, according to a press release.
“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,” FirstOnSite CEO Dave Demos said in the release. “We are pleased to see these endorsements, and are moving forward with renewed determination and energy as we prepare to close this deal.”
FirstOnSite is Canada’s largest independent disaster restoration services provider, with approximately 1,000 employees and 38 locations. and Interstate Restoration is one of the largest commercial restoration/reconstruction service providers in the U.S. Interstate Restoration has 19 locations in the U.S., but this will mark its first foray into outside the country.
The sale comes at an advantageous time, as Interstate teams will now be poised to aid FirstOnSite teams in offering disaster restoration services to those affected by the wildfires in Fort McMurray, AB.
“The sale of FirstOnSite Restoration to Interstate Restoration represents the strengthening of two of North America’s foremost disaster restoration brands,” said Stacy Mazur, CEO of Interstate Restoration. “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.”
Share This Article
Join Our Newsletter
February 21, 2023