FirstService Residential acquires controlling interest in Rizzetta & Company

FirstService Corporation has recently acquired a controlling interest in Rizzetta & Company. William “Bill” Rizzetta, Founder and President, will retain a significant equity stake in the Company and will continue to lead its operations. Terms of the transaction were not disclosed. Based in Tampa, Florida and founded in 1986, Rizzetta is a leading full-service provider of consulting and property management services to homeowner associations and community development districts through eight offices across Florida. A CDD is a special-purpose local government district created under Florida state legislation to efficiently manage the local urban infrastructure and specific development services of a new community. The CDD structure provides the ability to finance these developments via tax-free municipal bonds for the benefit of community residents. Rizzetta brings a particular expertise in district management services, which include assisting with community planning, bond issuance, administration, accounting, compliance and day-to-day operations.