TorQuest's FirstOnSite to combine with Delos-backed Interstate
FirstOnSite Restoration LP, a Canadian disaster restoration services business, has agreed to be acquired by its U.S. counterpart Interstate Restoration LLC. No financial terms were disclosed. The two companies said their combination will create North America's second largest independent restoration and reconstruction services provider. The deal, which is expected to close within two months, will be funded by U.S. private equity firm Delos Capital. Delos acquired Interstate last year. Mississauga, Ont.-based FirstOnSite was formed in a merger in 2007 by Canadian private equity firm TorQuest Partners. The company sought and was granted creditor protection this month.
22 April 2016•4 mins read
