BrightView Acquires Baytree Landscape Contractors, Inc.
BrightView Holdings, Inc. (NYSE: BV) has acquired Baytree Landscape Contractors, Inc., a full-service landscaping company based in Atlanta, Georgia. The terms of the deal were not disclosed. BrightView's President and CEO, Andrew Masterman, emphasized Baytree's strong reputation and success in landscape services, anticipating positive synergies from the acquisition. Baytree operates six locations and has over 370 employees. This move aims to enhance BrightView's presence in the Southeast and further strengthen its workforce.
- Acquisition of Baytree enhances BrightView's market presence in the Southeast.
- Baytree's reputation and skilled workforce may provide operational synergies.
- The merger could lead to expanded service offerings and clientele.
- Integration challenges could arise, affecting operational efficiency.
- Potential risks exist regarding achieving expected financial synergies.
- Uncertain outcomes related to employee retention and customer transitions.
BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, today announced the acquisition of Baytree Landscape Contractors, Inc., a full-service landscape firm based in Atlanta, Ga. Terms of the transaction were not disclosed.
“We are pleased to add Baytree, a landscaper with a stellar reputation for high quality work, to our operations in the Southeast,” said BrightView President and CEO Andrew Masterman. “Like BrightView, Baytree has achieved success across the spectrum of landscape services: design, development, irrigation, maintenance and enhancement. We look forward to bringing their skilled workforce and leadership into the BrightView family.”
Baytree operates from six primary locations: Atlanta, Ga., Johns Island, S.C., Charleston, S.C., Myrtle Beach, S.C., Charlotte, N.C., and Nashville, Tenn. At peak, Baytree employs more than 370 team members.
"The team at Baytree is excited about the many opportunities that being a part of the BrightView organization will bring,” said Andrew S. Watkins, Baytree President and CEO. “The people part of our business is everything. BrightView has put a priority on that from day one of this process."
About BrightView
BrightView is the largest provider of commercial landscaping services in the United States. Through its team of approximately 20,000 employees, BrightView provides services ranging from landscape maintenance and enhancements to tree care and landscape development for thousands of customers’ properties, including corporate and commercial properties, HOAs, public parks, hotels and resorts, hospitals and other healthcare facilities, educational institutions, restaurants and retail, and golf courses, among others. BrightView is the Official Field Consultant to Major League Baseball.
Forward-Looking Statements
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to our expectations regarding results of operations from companies we acquire and other financial and operating information. You can identify these forward-looking statements by the use of words such as “believes,” “guidance,” “target,” “expects,” “potential,” “continues,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks, uncertainties and factors, including the following: BrightView may not be able to achieve the anticipated benefits of the acquisition transaction, including revenue, growth and synergistic opportunities; BrightView may be unable to successfully implement integration strategies; results of operations may be lower than expected; operating costs, customer loss, and business disruption may be greater than expected; and BrightView may assume unexpected risks and liabilities. Additional factors that could cause BrightView’s results to differ materially from those described in the forward-looking statements can be found under “Item 1A. Risk Factors” in our Form 10-K for the fiscal year ended September 30, 2020, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. Any forward-looking statement made in this press release speaks only as of the date on which it was made. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005843/en/
FAQ
What is the significance of BrightView's acquisition of Baytree?
When was the acquisition of Baytree by BrightView announced?
How many employees does Baytree Landscape Contractors have?
What services does Baytree provide?
What potential risks does BrightView face with the acquisition?
