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Firstonsite Restoration |
Business Description
Firstonsite Restoration, is the leading provider of disaster restoration services in Canada to residential, commercial and industrial clients. The Company is a full service restoration provider with emergency and re-build expertise in water losses, wind damage, fire and smoke damage, sewer backup, document restoration, hurricane and tornado restorations, odour control, contents handling, drying, electronic repairs, mould remediation, asbestos remediation, petroleum spills and infection control.
Firstonsite was formed in February 2007 by the merger of Edenvale Restorations and Woodhouse Contracting, two leading regional disaster restoration firms. Subsequent to the initial capitalization, Firstonsite has acquired an additional 14 regional disaster restoration firms in Canada and now operates as seven regional hubs with offices in 38 cities across all but one of the Canadian provinces. The combined entity has over 1,100 employees and over $200 million of annual revenue.
The Company's vision is build the pre-eminent disaster restoration company in Canada with coast to coast representation, a consistent service offering, internal and external consistency and a corporate sales and marketing group capable of driving national deals to the operations in the field.
Firstonsite is a true operating partnership whereby all of the vendors / founders have stayed on in their original capacity as managers and most are also owners in Firstonsite. The Company is extremely proud of its entrepreneurial and regional heritage and continues to foster this in its culture.
Investment Thesis
Firstonsite's management team has a proven track record of extraordinary growth. With the restoration industry in Canada being highly fragmented, TorQuest invested in Firstonsite to back the existing management team and add additional management talent to widen its footprint in Canada to service a customer base that is more national in scale. By expanding its geographic reach and expanding its service offering there is an opportunity to increase the value proposition to its customers.
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