Delos-backed Interstate closes buy of TorQuest’s FirstOnSite

Interstate Restoration LLC has closed its acquisition of FirstOnSite Restoration LP, a Canadian disaster restoration services provider. No financial terms were released for the buy, which was announced in April. Fort Worth, Texas-based Interstate, backed by U.S. private equity firm Delos Capital, said the deal has made it the second-largest independent company in its industry. FirstOnSite, which was backed by TorQuest Partners, a Canadian private equity firm, will continue to operate under its name and remain headquartered in Mississauga, Ontario, Interstate said.

PRESS RELEASE

Acquisition by Interstate Restoration Creates Industry Giant

Deal Complete; Combined Assets of U.S.-Canadian Companies Rank Second in Continent

FT. WORTH, TX–(Marketwired – Jun 1, 2016) – Interstate Restoration LLC, already a U.S. leader in disaster recovery efforts on a commercial scale, has climbed the ranks in continental stature by completing the acquisition of FirstOnSite Restoration G.P. Inc. in Canada.

As a result of the transaction, Interstate Restoration becomes a company of $300 million annual revenues, with nearly 1,250 employees operating in both countries. Both benchmarks establish Ft. Worth-based Interstate Restoration as the second largest independent company in its industry.

“More than our sheer size, our quality of service and our reputation for responsiveness in disaster situations have determined Interstate Restoration’s success,” said Stacy Mazur, CEO of Interstate Restoration. “But our growth is an indication of how positively our clients have responded to us over the years, and it gives us greater resources to address clients’ needs on an even greater scale.”

Terms of the transaction were not disclosed.

FirstOnSite Restoration is Canada’s largest independent disaster restoration services provider, with 35 branches across the country. FirstOnSite Restoration will continue to operate under the FirstOnSite name, and will remain headquartered in its current Mississauga, Ontario location.

Demos will continue to lead FirstOnSite Restoration in Canada.

In an immediate example of the robustness of the new organization, Interstate Restoration has already sent equipment, fleet and personnel from the U.S. to join FirstOnSite Restoration in its efforts to respond to the fire-ravaged area of Fort McMurray.

About Interstate Restoration
Founded in 1998, Interstate Restoration, LLC, based in Ft. Worth, Texas, is one of the largest emergency restoration and reconstruction service providers for commercial enterprises in the United States. Interstate Restoration specializes in assisting property owners and businesses in recovering from fire, flood, natural and human-caused disasters. In combination with its FirstOnSite Restoration division, Interstate has 19 regional offices in the U.S. and 35 in Canada. Interstate Restoration has the scalability to respond to any-sized catastrophe and help people get back to business and back to life quickly and safely. For more information, visit www.interstaterestoration.com, call 800-622-6433 or follow us on Twitter at @InterstateRest. For FirstOnSite, go to www.firstonsite.ca or call 877-778-6731.

CONTACT INFORMATION
Press Contacts:
In the U.S., for Interstate Restoration:
Steve Caulk
303-410-4971
srcaulk@proconnectpr.com

In Canada, for FirstOnSite:
Colin Nekolaichuk
416-640-5525 ext. 253
colinn@wearemaverick.com

Photo courtesy of FirstOnSite Restoration LP