Crosby a good fit for FSV

Article Excerpt

FIRSTSERVICE CORP. $30.20 (Toronto symbol FSV; TSINetwork Rating: Extra Risk) (416-960-9500; www.firstservice.com; Shares outstanding: 28.9 million; Market cap: $873.6 million; No dividends paid) has bought a majority interest in Crosby Property Management, a leading residential property management company in B.C. Crosby manages more than 250 low-, mid and high-rise residential and commercial properties. With $15 million in annual revenue, Crosby is small compared to FirstService, which has $2 billion of annual revenue. However, the purchase gives FirstService a market-leading presence in B.C. FirstService is still a buy. buy…