FirstService-owned Roofing Corp of America acquires Schefers Roofing, marking 16th add-on and Kansas City entry

On June 10, 2026, FirstService Corporation (TSX and NASDAQ: FSV) announced that its subsidiary Roofing Corp of America had acquired Schefers Roofing, a commercial roofing contractor headquartered in Kansas City, Missouri. RCA had previously disclosed the partnership at the operating-company level on May 20, 2026. Terms of the transaction were not disclosed.

Schefers was founded in 1995 and serves customers throughout Missouri, Northern Arkansas, and surrounding markets. The company's services include commercial roofing installation, restoration, preventative maintenance, leak repair, and architectural sheet metal fabrication. Founder Lance Schefers will remain Chief Executive Officer of the business. Day-to-day operations will continue to be led by President Doug Mackesty and Senior Superintendent James Napper, with Schefers operating as a standalone brand within RCA.

Notably, the existing management team retained a minority equity interest in the business as part of the transaction. The structure is a partial liquidity event for the seller — ownership transitions to a well-capitalized strategic acquirer, the founder takes meaningful cash off the table, and management continues to participate in future upside through retained equity.

About Roofing Corp of America

Roofing Corp of America was founded in December 2020 by Soundcore Capital Partners, a New York-based private equity firm. Under Soundcore's ownership, RCA executed ten add-on acquisitions across nine states before being sold to FirstService Corporation in December 2023 for a reported $413 million, with RCA's senior leadership retaining a portion of the equity post-close. At that point, the platform was generating approximately $400 million in annual revenue.

In the roughly two and a half years since FirstService closed on RCA, the platform has continued its pace of regional add-ons. Schefers marks RCA's 16th acquisition since inception and brings the platform's total footprint to 27 branch locations across the U.S., with operating brands spanning the Sun Belt, Southeast, Mountain West, West Coast, and now the Midwest. Headquartered in Atlanta and led by CEO Randy Korach, RCA serves commercial building owners, property and facility managers, homeowners' associations, and general contractors.

About FirstService Corporation

FirstService is a publicly traded North American property services holding company generating more than $5.5 billion in annual revenue with roughly 30,000 employees. The Common Shares trade on the NASDAQ and Toronto Stock Exchange under the symbol FSV and are included in the S&P/TSX 60 Index. The company operates through two platforms: FirstService Residential, North America's largest manager of residential communities, and FirstService Brands, which delivers essential property services through company-owned operations and franchise systems including California Closets, Paul Davis Restoration, Century Fire Protection, and now Roofing Corp of America.

FirstService's stated playbook — acquire market-leading platforms in large, fragmented essential property services categories and support them with long-term capital and operating discipline — has been applied consistently across the portfolio. RCA's continued M&A cadence under FirstService ownership is a direct expression of that strategy in commercial roofing.

What this means for commercial roofing M&A

The RCA-Schefers transaction is a useful data point on three current dynamics in commercial roofing M&A. First, public strategic acquirers are firmly active in the category alongside the larger PE-backed roll-ups (Tecta America, Nations Roof, CentiMark, Bone Dry, Ridgeline, and others). FirstService brings a $5.5B+ revenue base, public-company access to capital, and a longer holding horizon than a typical PE fund — a different value proposition than a sponsor with a five-to-seven year hold target.

Second, the deal structure matters as much as the price. The Schefers transaction is structurally a partial liquidity event: the founder remains CEO, the management team holds minority equity in the acquirer or the acquired entity, and the local brand continues. This structure is increasingly common across commercial roofing precisely because it solves for two things owners care about beyond headline valuation — continued participation in upside if the broader platform appreciates, and operational continuity for customers and employees through the transition. The same template appeared in RCA's own founding deal with FirstService, where RCA's senior leadership retained equity at the time of FirstService's $413M acquisition.

Third, the buyer universe for an established commercial roofing business now spans a meaningfully wider set of options than it did even three years ago. PE platforms, public strategics, family offices, and independent sponsors are all actively writing checks for businesses with $3M to $50M+ of EBITDA in commercial roofing — and each comes with a different post-close model. The right fit depends on the owner's goals around liquidity, ongoing role, retained equity, time horizon, and the kind of partner they want next to them for the next chapter.