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FirstService announced that its FirstService Brands division has recently completed three acquisitions. Terms of the transactions were not disclosed. First Onsite Restoration acquired Emergency Restoration, Inc. Founded in 2003, the company is a provider of emergency water mitigation and property restoration services throughout the New Orleans metropolitan area. This acquisition enhances FirstService's presence and client coverage in a key geographic region susceptible to weather-driven property damage. Paul Davis Restoration added to its company-owned platform with the acquisition of its franchised operation serving the Salt Lake City, Utah and Las Vegas, Nevada metropolitan areas. Established in 2014, this business is one of the largest franchises in the Paul Davis network and the largest restoration service provider in Salt Lake City. This acquisition furthers FirstService's strategy of selectively acquiring franchises within our aggregate network of 330 locations across North America. California Closets also further expanded its company-owned operations with the acquisition of its franchised territory within Portland, Oregon and surrounding areas, adding a market with significant future growth potential. "These three transactions are a continuation of our strategy to augment our capabilities and geographic coverage across existing operations through selective tuck-under acquisitions," said Scott Patterson, Chief Executive Officer of FirstService. "We look forward to jointly working with the operating leaders and their teams to drive incremental growth opportunities in their respective markets," he concluded.

FirstService announced that it has recently completed three acquisitions within its property restoration service lines. These transactions fill in regional gaps within its North American geographic footprint and further add to its property restoration service capabilities. The leaders of these businesses will continue to manage their respective day-to-day operations. Terms of the transactions were not disclosed. These businesses include Watermark, Confra Global, and Paul Davis Lincoln. "These three tuck-under acquisitions are important additions to our First Onsite and Paul Davis restoration brands, enhancing our geographic footprint and scale, increasing our service capabilities and adding new regional and local client relationships," said Scott Patterson, Chief Executive Officer of FirstService. "We welcome the new leaders and their teams to the FirstService family of owned operations and look forward to their contributions in collectively driving future growth."

FirstService Corporation announced that the Toronto Stock Exchange has accepted a notice filed by FirstService of its intention to make a normal course issuer bid with respect to its outstanding common shares. The notice provides that FirstService may, during the 12 month period commencing August 26, 2022 and ending no later than August 25, 2023, purchase through the facilities of the TSX, alternative Canadian Trading Systems and/or The NASDAQ Stock Market up to 1,600,000 common shares in total, being 4.2% of the "public float" of common shares as of August 12, 2022. The price which FirstService will pay for any common shares will be the market price at the time of acquisition. During the period of this NCIB, FirstService may make purchases under the NCIB by means of open market transactions or otherwise as permitted by the TSX and/or NASDAQ. In the event that FirstService acquires common shares by other means as may be permitted by the TSX and/or NASDAQ, such as pre-arranged crosses, exempt offers and private agreements, the purchase price of the common shares may be different than the market price of same at the time of acquisition. The actual number of common shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of FirstService. The average daily trading volume from February 1 to July 31, 2022 was 94,238 common shares. Daily purchases under the NCIB will be limited to 23,559 common shares, other than block purchases. All shares purchased by FirstService under the NCIB will be cancelled. As of August 12, 2022, there were 44,195,931 common shares of FirstService outstanding, and the public float was 38,587,365 common shares. FirstService may purchase its common shares, from time to time, if it believes that the market price of its common shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of FirstService. FirstService may also purchase its common shares in order to mitigate the dilutive effect of stock options issued under its stock option plan. Pursuant to a previous notice of intention to conduct a NCIB, under which FirstService sought and received approval from the TSX to purchase up to 1,600,000 common shares for the period of August 26, 2021 to August 25, 2022, FirstService has not purchased for cancellation, as of August 12, 2022, any common shares. FirstService's previous NCIB expires on August 25, 2022.