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BrightView (NYSE: BV), a leader in commercial landscaping, announced the acquisition of SGS Hawaii, enhancing its presence in the Hawaiian resort sector. SGS Hawaii, founded in 1995, specializes in environmentally friendly landscaping services for hotels and resorts using electric equipment. This acquisition aligns with BrightView’s growth strategy and commitment to sustainability. SGS Hawaii is the second Hawaiian firm acquired by BrightView this year, following the acquisition of Performance Landscapes in January.
Positive
Acquisition of SGS Hawaii enhances BrightView's portfolio in the resort landscaping sector.
Strategic focus on environmental sustainability through electric-powered equipment aligns with market trends.
Negative
Terms of the transaction were not disclosed, potentially raising concerns about financial implications.
Integration challenges and execution risks associated with the acquisition may arise.
BLUE BELL, Pa.--(BUSINESS WIRE)--
BrightViewHoldings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, today announced the acquisition of SGS Hawaii, a commercial landscaping company headquartered in Wailuku, Hawaii with operations on Maui, the Big Island and Kauai. Terms of the transaction were not disclosed.
Founded in 1995, SGS Hawaii is a premier resort landscaping company with a loyal customer base in the resort industry. With more than 100 landscape professionals and a predominantly electric fleet, SGS focuses primarily on the hotel and resort sector, with services ranging from grounds management and lawn maintenance to irrigation, tree trimming, arbor care, soil testing and fertilization.
“We are excited to welcome SGS Hawaii’s team members to the BrightView family, as we continue to grow our presence in Hawaii and execute upon our successful long-term acquisition growth strategy,” said Andrew Masterman, BrightView President and Chief Executive Officer. “SGS’ expertise in the hotel and resort industry strengthens our portfolio, while its commitment to reducing carbon emissions through the use of electric powered equipment is the perfect complement to our environmental sustainability strategy.”
“SGS Hawaii has established a reputation across Hawaii’s resort industry for using battery powered lawn equipment to minimize noise and emissions and for our wide use of effective organic fertilizers,” said Sidney Sparkman, RME, President of SGS Hawaii. “BrightView offers our company a national stage to demonstrate that landscape management can and should be stewards of the environment – this is SGS ' platform and BrightView’s vision! The BrightView Ohana brings significant opportunities and resources for our staff, which in turn will further enhance the client experience.”
SGS Hawaii is the second Hawaiian landscaping firm BrightView has purchased this year, joining Honolulu-based Performance Landscapes, which was acquired in January.
BrightView Development Services has been a licensed landscape and irrigation contractor in Hawaii since 2008. In addition to renovating the Hualalai Four Seasons in Kona following a tsunami in 2011, BrightView also restored the irrigation system for the Hilton Waikoloa Village and Resort and performed landscape architecture work at the Four Seasons Maui.
About BrightView
BrightView (NYSE: BV), the nation’s largest commercial landscaper, proudly designs, creates, and maintains the best landscapes on Earth and provides the most efficient and comprehensive snow and ice removal services. With a dependable service commitment, BrightView brings brilliant landscapes to life at premier properties across the United States, including business parks and corporate offices, homeowners' associations, healthcare facilities, educational institutions, retail centers, resorts and theme parks, municipalities, golf courses, and sports venues. BrightView also serves as the Official Field Consultant to Major League Baseball. Through industry-leading best practices and sustainable solutions, BrightView is invested in taking care of our team members, engaging our clients, inspiring our communities, and preserving our planet. Visit www.BrightView.com and connect with us on Twitter, Facebook, and LinkedIn.
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, profits, growth and opportunities for synergies; 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.
