Independent disaster restoration services provider FirstOnSite Restoration has acquired the family-run restoration business Spectrum Restoration.
The deal closed on December 01, 2020. Terms of the transaction were not disclosed.
Spectrum Restoration is a commercial and residential restoration services company based in Lloydminster – a city that sits on the border between Alberta and Saskatchewan. The company’s unique location allows it to service commercial and residential customers in both provinces. Apart from its Lloydminster headquarters, Spectrum Restoration also has a location in Cold Lake, AB.
For the past 14 years, Spectrum Restoration has been operating under the leadership of Greg and Travis Stieb. Following FirstOnSite’s acquisition of Spectrum, Travis Stieb will take on the role of senior project manager, complex commercial division. Meanwhile, Rick Stephens will be appointed to the role of branch manager for both the Lloydminster and Cold Lake locations.
“This acquisition represents an important expansion for FirstOnSite that closes a geographical service gap in the Prairies, allowing us to reach new customers and expand our coverage for our existing partners,” said FirstOnSite Restoration senior vice-president of Western operations Bill Moorman.
“Spectrum Restoration complements FirstOnSite’s business very nicely and fits in with our strategic focus on growing our commercial capabilities across the country,” said FirstOnSite Restoration CEO Dave Demos, who added that Spectrum is well known for its residential restoration services and its abilities to manage large loss commercial projects.
“FirstOnSite has been a trusted partner and we are thrilled at the opportunity to join forces with a large, sophisticated company that shares the same passion for large loss restoration” stated Travis Stieb. “With the systems and infrastructure of a large corporation, not only will FirstOnSite provide support and the ability to scale up when large loss disasters hit, it will provide our employees with room for advancement, giving them more potential in their career paths.”