SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
TORONTO, Jan. 14, 2016 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV) (NASDAQ:FSV) (“FirstService”) announced today that its California Closets business has further expanded its company-owned operations with the acquisition of its Los Angeles franchise. California Closets is a unit of FirstService subsidiary, FirstService Brands, and is the leading North American provider of closet and home storage solutions with 80 franchised and corporate-owned locations. Terms of the transaction were not disclosed.
“This transaction advances our strategy of acquiring California Closets franchises in certain key markets and integrating them with our existing company-owned platform,” said Charlie Chase, President & CEO of FirstService Brands. “We now have a dozen corporate-owned locations which are being configured with our centralized manufacturing facility in Phoenix to drive greater efficiencies and profitability.”
“We are excited with the prospects of owning a key market like Los Angeles,” said Bill Barton, President & CEO of California Closets. “We gain a foothold in a marquee, fast-growing territory which has significant potential for further market share penetration through our industry-leading brand,” he concluded.
About FirstService Corporation
FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.
FirstService generates more than $1.2 billion in annual revenues and has more than 15,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Subordinate Voting Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV".
For the latest news from FirstService Corporation, visit FirstService.com.
COMPANY CONTACT: Jeremy Rakusin CFO FirstService Corporation (416) 960-9500
