BrightView Acquires Green Image
BrightView Holdings, Inc. (NYSE: BV) announced the acquisition of Green Image, LLC (GTI), a leading landscaping entity based in Las Vegas. The acquisition, enhancing BrightView's presence in the western U.S., will add over 400 skilled team members to its operations. GTI, established in 2004, is known for its excellence in landscape maintenance and development. President and CEO Andrew Masterman highlighted the strategic advantage of GTI's experience in horticulture and engineering. No financial terms of the transaction were disclosed.
- Acquisition of GTI strengthens BrightView's operations in the western U.S.
- Addition of over 400 experienced team members.
- GTI has a solid reputation in landscaping development and maintenance.
- No financial terms disclosed, creating uncertainty about the transaction's impact.
- Integration challenges may arise with GTI, potentially affecting operational efficiency.
BrightView Holdings, Inc. (NYSE: BV) (“BrightView”), the leading commercial landscaping services company in the United States, today announced the acquisition of Green Image, LLC (GTI) based in Las Vegas, Nev. Terms of the transaction were not disclosed.
“GTI and its more than 400 team members are a great strategic addition to our operations in the western U.S.,” said BrightView President and CEO Andrew Masterman. “They bring a solid base of maintenance operations plus an impressive capability in landscape development. This team of professionals has years of experience in horticulture, engineering, maintenance, design, architecture, and equipment management and I am pleased to welcome them to BrightView.”
Founded in 2004 GTI has earned a reputation throughout Nevada for the quality of its work in both landscape development and maintenance, including HOA streetscapes and entries, parks, common areas, play structures, athletic fields and water features.
“We look forward to the new opportunities our people will have joining the BrightView team,” said GTI’s Brock Krahenbuhl. “It’s very exciting and we are ready for this new expansion in the landscape industry.”
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.
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