Houlihan Lokey Advises Global Restoration Holdings

Houlihan Lokey is pleased to announce that Global Restoration Holdings, LLC (GRH), a portfolio company of Delos Capital (Delos), has been acquired by FirstService Corporation (TSX and NASDAQ:FSV; FirstService)FirstService acquired 95% of GRH for a purchase price of $505 million, or an implied total enterprise value of $530 million.

Headquartered in Denver, Colorado and founded in 1998, GRH provides integrated end-to-end solutions encompassing mitigation, restoration, and reconstruction services on behalf of blue-chip, national clients which include large, multilocation commercial customers, property owners, and insurance companies. The company operates under two highly recognized brands, Interstate Restoration in the U.S. and FirstOnSite Restoration in Canada, and employs approximately 1,400 staff members operating out of 58 regional offices throughout North America.

Founded in 2013, Delos is a lower-middle-market private equity firm that specializes in management buyouts, recapitalizations, and growth investments. Delos is based in New York.

FirstService, based in Toronto, Canada, is a leading provider of essential outsourced property services in North America. The company serves customers through industry-leading service platforms with approximately 22,000 employees across North America, including 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.

Houlihan Lokey served as the exclusive financial advisor to GRH and assisted in initiating, structuring, and negotiating the transaction on GRH's behalf. This transaction highlights Houlihan Lokey's continued success in sellside assignments and broad sector expertise advising environmental service companies.

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