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BrightView Holdings, Inc. (NYSE: BV) has announced the acquisition of Intermountain Plantings, LLC, a commercial landscaping company based in Salt Lake City. The financial terms of the acquisition remain undisclosed. BrightView's CEO, Andrew Masterman, emphasized the strategic importance of the acquisition for enhancing operations in the Mountain West region. Intermountain Plantings employs over 340 team members and has a strong reputation in landscape development and maintenance, with nearly three decades of experience in the industry.
Positive
Acquisition strengthens BrightView's operations in the Mountain West region.
Intermountain Plantings has a reputable history, enhancing BrightView's market position.
The acquisition may provide synergistic opportunities and potential revenue growth.
Negative
Financial terms of the acquisition are undisclosed, raising uncertainty about the deal's valuation.
Integration challenges may arise, affecting operational efficiency.
BLUE BELL, Pa.--(BUSINESS WIRE)--
BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, today announced the acquisition of Intermountain Plantings, LLC, a commercial landscaping company headquartered in Salt Lake City. Terms of the transaction were not disclosed.
“Intermountain Plantings is a great addition to our maintenance and development operations in the Mountain West,” said Andrew Masterman, BrightView CEO and President. “In our industry, a positive reputation is built on quality, safety and service, which have been hallmarks of Intermountain’s operations for nearly three decades. It is a great pleasure to welcome them to BrightView.”
Intermountain Plantings specializes in both landscape development and maintenance. More than 340 team members work out of branches in suburban Salt Lake City and Boise, Idaho. Since 1994, Intermountain has built and maintained some of the largest and most complex landscape projects in the region. The company employs landscape experts with industry-specific certifications and training, including certified irrigation contractors, ISA-certified arborists, and licensed pest management workers.
“We are delighted to become part of the BrightView team and continue our journey in developing and maintaining beautiful and sustainable landscapes in the Intermountain West,” said Chad Richards, CEO of Intermountain Plantings. “I am so proud of the reputation our team has built and the award-winning projects they’ve masterfully crafted. We have an exceptional team and feel strongly about the opportunities this creates for them and our wonderful clients.”
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, 2021, 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.
