This acquisition marks FirstService Residential's entrance into special district services

DANIA BEACH, Fla., Feb. 12, 2024 -- FirstService Residential, North America's leading residential property management company, announced today it has acquired a majority stake in Tampa-based Rizzetta & Company ("Rizzetta"), a leading provider of consulting and management services to community development districts (CDDs) and homeowners associations ("HOAs") across Florida. William "Bill" Rizzetta, founder and president, retains a significant equity stake and continues to lead the company going forward.

The addition of Rizzetta extends FirstService Residential's consulting and property management into special districts. In Florida, these are referred to as CDDs, a unit of special-purpose government dedicated to the delivery of urban community development services. Other special district names include metropolitan districts ("metro district"), municipal utility districts ("MUDs"), public improvement districts ("PIDs"), special improvement districts ("SIDs"), special assessment districts ("SADs"), community facility districts ("CFD"), improvement districts ("IDs"), and tax increment financing districts ("TIFs").

"This is an important partnership for FirstService Residential in support of our growth strategy," said David Diestel, CEO of FirstService Residential. "In 37 years, Bill and his team have grown Rizzetta to one of the largest CDD companies in Florida. They have the expertise to work with municipalities, developers, and boards to support residential communities, from their initial inception to establishing and managing CDDs and homeowners' associations for lasting success. We share a passion for innovating in our industry to serve the communities of the future."

"Our team is excited to leverage the resources and value-added programs offered by FirstService, from financial services to amenity management, lifestyle programming, training programs, and more," says Bill Rizzetta, president of Rizzetta. "FirstService Residential's proven partnership model, combined with its resources and geographic footprint, will enable us to accelerate our expansion plans – throughout Florida and beyond."


About FirstService Residential
FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.

Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial and FirstService Energy deliver additional levels of support.

Boards and developers select FirstService Residential to realize their vision and drive positive change in the communities in their trusted care. FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.

Feb 12, 2024