BrightView Acquires Commercial Landscaper Signature Coast Holdings, LLC
BLUE BELL, Pa.--(BUSINESS WIRE)--Jan 13, 2020--
BrightView Holdings, Inc. (NYSE: BV) (“BrightView”), the leading commercial landscaping services company in the United States, today announced the acquisition of Signature Coast Holdings, LLC (“the Company” or “Signature Coast”), a commercial landscaping company headquartered in Napa, CA. Terms of the transaction were not disclosed.
Signature Coast’s operations span nine strategic locations in both California (Concord, Davis, Marin, Napa, Rocklin, Sacramento and Santa Rosa) and Nevada (Carson City and Reno). The Company provides landscape maintenance, irrigation, enhancement, installation, arbor care, pest control and snow removal services under its three major brands: Coast Landscape Management, Signature Landscapes and C&R Landscape. The Company’s 600 trained and qualified landscape professionals serve clients across the corporate, HOA, multi-family and municipal segments.
“BrightView has a demonstrated commitment to offering its customers the best and most complete landscaping services in the industry while providing our employees with a safe and rewarding environment to showcase their talents,” said Andrew Masterman, BrightView President and Chief Executive Officer. “Signature Coast’s core values closely align with these commitments to excellence, which is why we are excited to welcome their entire team to the BrightView family. Signature Coast is a Top 50 landscape service provider in the country and is the second largest acquisition we’ve made since the 2017 inception of our successful ‘Strong-on-Strong’ acquisition strategy. I look forward to working with the team for many years to come.”
Kelly Solomon, CEO of Signature Coast, and her senior leadership team will remain with BrightView to guide the integration process and beyond. “Our shared values toward our customers and employees convinced me that joining BrightView was the logical next step for Signature Coast. In addition to sharing best practices and leveraging industry-leading resources, I am excited by the opportunities that we will create for our award-winning team members to continue growing while keeping the customer at the center of everything we do,” she said.
BrightView is the largest provider of commercial landscaping services in the United States. Through its team of approximately 21,500 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.
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; 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, 2019, 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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CONTACT: INVESTOR RELATIONS CONTACT:
Daniel Schleiniger, VP of Investor Relations
Fred Jacobs, VP of Communications & Public Affairs
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA PENNSYLVANIA
INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY LANDSCAPE
SOURCE: BrightView Landscapes
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PUB: 01/13/2020 07:15 AM/DISC: 01/13/2020 07:15 AM