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BrightView Holdings, Inc. (NYSE: BV) has acquired TDE Group, a snow removal and landscaping company based near Detroit. This strategic acquisition marks the 34th addition to BrightView's portfolio, enhancing its operations in the Upper Midwest. TDE employs over 125 staff and caters to well-known clients, including auto manufacturers and the Detroit Metro Airport. Management anticipates that this partnership will provide growth opportunities for both employees and clients, expanding service offerings and reinforcing BrightView’s strong acquisition strategy.
Positive
Acquisition of TDE Group enhances BrightView's operations in the Upper Midwest.
Expands service offerings in both snow removal and landscaping.
TDE Group brings over 125 skilled employees into BrightView's workforce.
Strategic alignment with BrightView’s long-term acquisition growth strategy.
Negative
Terms of the transaction were not disclosed, leaving uncertainty regarding financial impact.
Integration challenges may arise, potentially 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 TDE Group, a snow removal and commercial landscaping company headquartered in suburban Detroit with operations in Windsor, Ontario. Terms of the transaction were not disclosed.
TDE Group is the 34th firm to be purchased by BrightView under its successful long-term acquisition growth strategy.
“BrightView continues to execute on our ‘strong-on-strong’ acquisition program in which we actively seek out exceptional businesses to expand our existing operations in attractive markets. Bringing TDE under the BrightView umbrella allows us to grow in a profitable market and bring highly trained and motivated team members into the company,” said Andrew Masterman, BrightView President and CEO.
In addition to snow removal, TDE Group provides landscaping maintenance services in the Detroit/Windsor metropolitan areas and beyond. Among TDE’s most prominent clients are auto manufacturers and the Detroit Metro Airport. TDE employs more than 125 people.
“The addition of TDE Group and their skilled crews is a great enhancement to our operations in the Upper Midwest,” said Jamie Gollotto, President of BrightView Maintenance Services Seasonal Division. “Their expertise in both winter services and landscaping makes them a perfect year-round complement for our existing branches in this important region.”
Eddie Conte, TDE’s President and CEO said, “TDE Group is happy to have become part of the BrightView family. This partnership will provide our employees with significant growth opportunities both in the USA and Canada. Our clients will continue to enjoy our meticulous self-performed approach to snow removal with a larger depth and breadth of landscape service offerings that far exceed what TDE could have done on its own.”
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.
