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BrightView Holdings, Inc. (NYSE: BV) has acquired Winter Services Incorporated, a respected snow and ice management firm located in Ringwood, N.J. This acquisition allows BrightView to enhance its snow removal operations in the Tri-State Area. Winter Services adds 125 full-time employees, growing to 450 during peak snow seasons, and contributes advanced equipment and certified professionals to BrightView's offerings. The transaction's terms were not disclosed, but it signifies BrightView's strategy to expand its services and improve operational capabilities in the snow management sector.
Positive
Acquisition enhances snow removal operations in the Tri-State Area.
Winter Services adds certified professionals and upgraded equipment.
Expansion of services with a well-respected firm in the Northeast.
Negative
No financial terms disclosed, creating uncertainty about acquisition costs.
Integration challenges may arise with Winter Services.
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 Winter Services Incorporated, a snow and ice management company headquartered in Ringwood, N.J. Terms of the transaction were not disclosed.
“The acquisition of one of the Northeast’s most respected snow and ice management firms allows us to expand our services in this region and enhance our existing snow removal operations in the Tri State Area,” said BrightView President and CEO Andrew Masterman. “In addition to highly trained crew members, including several certified snow professionals, Winter Services brings upgraded equipment and techniques to BrightView. We are delighted they have chosen to become part of our company.”
Winter Services employs 125 team members (450 during peak snow season) and serves clients throughout New Jersey, lower New York, lower Connecticut, eastern Pennsylvania and Delaware.
“We are excited to be a part of the BrightView team,” said Winter Services owner Mark Moore. “We look forward to helping expand BrightView's portfolio and collaborating on developing best-in-class snow and ice management strategies.”
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.
