Meredith & Grew, FirstService complete deal

Meredith & Grew, a Boston-based commercial real estate company, said today that it has completed the sale of an 80-percent interest in the firm to FirstService Corp.

Terms of the transaction were not disclosed.

Toronto-based FirstService provides property services to commercial, residential, and institutional customers.

Meredith & Grew also announced that 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 the firm's brokerage group.

Hynes said in a statement that as a result of the transaction, Meredith & Grew will "benefit from having access to the resources and capabilities of a large global organization."

Existing Meredith & Grew shareholders will retain a 20 percent interest.

While the strategic partnership with FirstService will allow Meredith & Grew to better serve clients," Hynes added, "Meredith & Grew's entrepreneurial spirit and strong leadership team remains."
(By Chris Reidy, Globe staff)