Toronto-based FirstService Corporation, a leader in the North American residential property management sector, said on Tuesday that it has expanded its market presence in Florida with the acquisition of Custom Property Management in West Palm Beach.
Dave Brown, who founded Custom Property Management in 1982, will continue to serve as the company's president.
"We are thrilled to be joining FirstService and its industry-leading residential property management group," Brown said. "FirstService's proven track record of success, leading-edge operating systems and proprietary programs will enable us to differentiate our service offerings from those of competitors, adding tangible value to our clients while creating rewarding new opportunities for our staff.”
FirstService's existing property management portfolio, totaling approximately 7,200 properties totaling over 1.6 million residential units throughout North America, will see the addition of over 16,000 units with the transaction. Terms of the contract were not disclosed.
"This acquisition complements our existing market-leading operations in Palm Beach, Martin and Broward counties," Chuck Fallon, FirstService Residential's CEO, said. "Dave and his team share our passion for service excellence and for delivering outstanding value to clients, making Custom a great fit within the FirstService Residential family."
FirstService offers two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities, and FirstService Brands, delivering property services via franchises. With over 15,000 employees across North America, the company generates over $1.1 billion in revenue annually.