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Spectrum Restoration bought by FirstOnSite

A popular local commercial and residential restoration company has a new owner. FirstOnSite Restoration said on Tuesday they had signed an agreement to purchase Spectrum Restoration.

Spectrum had been a family run business since 2006 that is headquartered in Lloydminster and features a branch in Cold Lake. The company is said to have about 40 employees across the two locations.

“Spectrum Restoration complements FirstOnSite’s business very nicely and fits in with our strategic focus on growing our commercial capabilities across the country,” said Dave Demos, CEO. “Spectrum is well known for its residential restoration services and its exceptional abilities to manage large loss commercial projects. Combined with the strength that FirstOnSite’s corporate structure offers, we anticipate this acquisition will generate significant growth in the region.”

“FirstOnSite has been a trusted partner and we are thrilled at the opportunity to join forces with a large, sophisticated company that shares the same passion for large loss restoration,” said Travis Stieb, Spectrum Restoration. “With the systems and infrastructure of a large corporation, not only will FirstOnSite provide support and the ability to scale up when large loss disasters hit, it will provide our employees with room for advancement, giving them more potential in their career paths.

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The deal is said to close on December 1st. Other terms or details on the agreement weren’t released.

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