FirstService Expands In Midwest With Schefers Roofing Deal

(RTTNews) - Property services firm FirstService Corp. (FSV, FSV.TO), announced on Wednesday that its Roofing Corp of America subsidiary has acquired Schefers Roofing, expanding its commercial roofing operations into the Kansas City market. Terms of the deal were not disclosed.

Schefers Roofing, founded in 1995 and based in Kansas City, Missouri, provides installation, restoration, preventative maintenance and leak repair services across Missouri, Northern Arkansas and surrounding regions.

The company said that the existing management team will retain a minority equity interest and continue to oversee day-to-day operations.

"The addition of Schefers expands RCAs geographic footprint into the Kansas City market and further strengthens our presence in the Midwest U.S. region", said Randy Korach, CEO of RCA.

On the Nasdaq, shares of FirstService Corporation closed Tuesday's trading 3.33 percent higher at $143.01.