Company:BrightView

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Short description: American landscaping company
BrightView
TypePublic
NYSE: BV
IndustryCommercial landscaping management
HeadquartersBlue Bell, PA
Key people
Andrew Masterman, President, CEO and Director[1]
ServicesCommercial landscaping services including landscape maintenance and enhancements; tree care; and landscape development
RevenueIncrease US$2.404 billion (2019)[2]
Increase US$129.7 million (2019)[2]
Increase US$44.4 million (2019)[2]
Total assetsIncrease US$2.928 billion (2019)[2]
Total equityIncrease US$1.283 billion (2019)[2]
Number of employees
21,500 (2019)
WebsiteBrightView

BrightView, also known as BrightView Landscapes, and formally as BrightView Holdings, Inc., is a Blue Bell, Pennsylvania-based commercial landscape management company. Founded in 2014, the company went public on the NYSE in June 2018, and at the time was the highest grossing landscape company in North America.[3][4] It is also the only publicly traded landscape management company in the world.[5]

History

BrightView was founded in 2014 when investment firm KKR acquired commercial landscaping company ValleyCrest from Michael Dell’s investment firm MSD Capital, and combined it with landscape company Brickman, which it had owned since 2013.[6][7] The companies were similar, but their commercial focus was different. Brickman had more business in snow and ice management, while ValleyCrest was more focused in the design, construction, golf and nursery businesses, and also operated the national commercial maintenance franchise company U.S. Lawns.[8] After the merger, the companies initially maintained their separate brands, with Andrew Kerin heading up Brickman, and Roger Zino running ValleyCrest.[9]

In 2016, the combined companies were rebranded as BrightView, with MSD still a minority shareholder of BrightView.[4] Kerin was named BrightView's first CEO.[10] In July, Kerin resigned and Pat Velasco was named interim CEO.[11] In November, the company named Andrew Masterman as its new president and CEO, replacing interim CEO Velasco.[12]

In June 2018, Brightview went public on the New York Stock Exchange with ticker symbol BV, and raised $435.1 million.[3] At the time, it reported that it was serving 13,000 office parks and campuses.[3]

In August 2019, the company acquired Jamesville, NY-based commercial landscaping company Pro Scapes.San Diego, California-based commercial landscaping company Heaviland Enterprises, and Mesa, Arizona-based landscaping firm Clean Cut Lawns.[13] In November, the company acquired San Diego, California-based commercial landscaping company Heaviland Enterprises, and Mesa, Arizona-based landscaping firm Clean Cut Lawns.[14]

In January 2020, the company acquired Napa Valley, California-based Commercial Landscaping company Signature Coast Holdings.[15]

In January 2021, the company acquired Plymouth, Minnesota-based winter services and landscape maintenance company Cutting Edge Property Maintenance.[16]

Services

BrightView operates two landscaping-related business segments: maintenance services and development services. Maintenance services is general landscape maintenance performed by the company's national network of 220 branches and by local service partners.[2] Development services consist of the design, coordination and installation of landscapes at corporate, athletic and university complexes.[2]

Operations

The company is headquartered in Blue Bell, Pennsylvania, and has over 220 branches in the United States.[2] The company expands its branch network by acquiring local landscaping companies.[13][14][15]

References

  1. ↑ "Andrew V. Masterman, 50". https://www.wsj.com/market-data/quotes/BV/company-people/executive-profile/122106944. Retrieved 30 November 2020. 
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 "BrightView Holdings, Inc. Selected Financial Data". BrightView. 12 November 2019. http://d18rn0p25nwr6d.cloudfront.net/CIK-0001734713/8588446d-be38-4f16-9125-6c374e1cbbd3.pdf. Retrieved 30 November 2020. 
  3. ↑ 3.0 3.1 3.2 "BrightView Holdings IPO priced at $22/share". 27 June 2018. https://www.reuters.com/article/us-brightview-ipo-pricing/brightview-holdings-ipo-priced-at-22-share-idUSKBN1JN376. Retrieved 30 November 2020. 
  4. ↑ 4.0 4.1 "BrightView makes its move". 31 May 2018. https://www.lawnandlandscape.com/article/ll-053118-brightview-goes-public-ipo-filing/. Retrieved 30 November 2020. 
  5. ↑ "BrightView CEO: The grass will always grow no matter the state of the economy". 28 June 2018. https://www.cnbc.com/video/2018/06/28/brightview-ceo-the-grass-will-always-grow-no-matter-the-state-of-the-economy.html. Retrieved 2 December 2020. 
  6. ↑ "BrightView filed for an IPO May 31". 6 June 2018. https://www.nurserymag.com/article/brightview-files-for-ipo/. Retrieved 1 December 2020. 
  7. ↑ "K.K.R. to Buy Landscaping Company Brickman for $1.6 Billion". 11 November 2013. https://dealbook.nytimes.com/2013/11/11/k-k-r-to-buy-landscaping-company-brickman-for-1-6-billion/. Retrieved 1 December 2020. 
  8. ↑ "Brickman and ValleyCrest have a new name". 3 April 2014. https://www.lawnandlandscape.com/article/ll-120314-brickman-valleycrest-brightview/. Retrieved 2 December 2020. 
  9. ↑ "Building BrightView". 1 May 2015. https://archive.lib.msu.edu/tic/alapt/article/2015may.pdf. Retrieved 2 December 2020. 
  10. ↑ "Landscaping industry's private giant goes looking for new CEO". 1 May 2015. https://www.totallandscapecare.com/landscaping-business/feature-article/brightview-landscaping-ceo-departure/. Retrieved 2 December 2020. 
  11. ↑ "Kerin out as BrightView CEO". 21 July 2016. https://www.nurserymag.com/article/ll-072116-brightview-kerin-ceo/. Retrieved 2 December 2020. 
  12. ↑ "New President and CEO for BrightView". 14 November 2016. https://igin.com/article-5637-New-President-and-CEO-for-BrightView.html. Retrieved 2 December 2020. 
  13. ↑ 13.0 13.1 "BrightView acquires Pro Scapes in New York". 30 August 2019. https://www.lawnandlandscape.com/article/brightview-acquires-pro-scapes-in-new-york/. Retrieved 3 December 2020. 
  14. ↑ 14.0 14.1 "BrightView announces two acquisitions on West Coast". 21 November 2019. https://www.lawnandlandscape.com/article/brightview-acquires-two-companies-on-west-coast/. Retrieved 3 December 2020. 
  15. ↑ 15.0 15.1 "BrightView acquires Top 100 company". 13 January 2020. https://www.lawnandlandscape.com/article/brightview-acquires-signature-coast-holdings/. Retrieved 3 December 2020. 
  16. ↑ "BrightView acquires Cutting Edge Property Maintenance". 11 January 2021. https://www.lawnandlandscape.com/article/brightview-acquires-cutting-edge-property-maintenance/. Retrieved 15 January 2021. 

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