Merideth & Grew Restructuring

From a press release that came out today:

Meredith & Grew announced today that it has completed the sale of an 80% interest in the firm to FirstService Corporation, a NASDAQ-listed, diversified property services company headquartered in Toronto, Ontario. The transaction is effective September 1, 2007. The existing Meredith & Grew shareholders in the firm will retain a 20% interest. The terms of the transaction were not disclosed.

Meredith & Grew also announced that effective immediately, Thomas J. Hynes, Jr. and Kevin C. Phelan have been appointed Chairman, and President of the firm, respectively. Additionally, Ronald K. Perry has been named Head of Meredith & Grew’s Brokerage Group, which includes the Boston Brokerage, Suburban Brokerage and Retail Brokerage teams.

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