BLUE BELL, Pa.--(BUSINESS WIRE)--BrightView Holdings, Inc. (NYSE: BV) (“the Company” or “BrightView”), the leading commercial landscaping services company in the United States, today announced the acquisition of Summit Landscape Group, LLC (“Summit”), a commercial landscaping company headquartered in Rock Hill, SC. Terms of the transaction were not disclosed.
Established in 2011, Summit has built a strong reputation among its clients for providing each of them with a comprehensive landscape solution and delivering outstanding workmanship and service beyond expectations. By taking a proactive, practical and responsive approach to customer service, Summit has set itself apart in each of the markets it serves: Charlotte (NC), Charleston and Hilton Head (SC) and Nashville (TN). The team of approximately 180 trained and skilled landscape professionals holds certifications to offer a full suite of landscaping services including, turf management, agronomics, tree and plant care, landscape design and install, irrigation install and repair, outdoor living (hardscapes), landscape lighting, erosion control, storm water control and inspection, soil stabilization, grading and snow and ice removal.
“Today we are welcoming Summit Landscape Group to the BrightView family,” said Andrew Masterman, BrightView President and Chief Executive Officer. “We look forward to working with this team of talented landscapers who will apply their broad experience and capabilities to help us strengthen our Mid-Atlantic Region by expanding our existing footprints in Charlotte, Hilton Head and Nashville as well as entering the attractive Charleston market. I am confident that, together, we will do great things.”
Founders Mike Knabenshue and Steve Adolph will remain with BrightView to provide leadership continuity. “We are proud of the business and the reputation we’ve established since founding Summit, which is why we felt that BrightView was the best fit to continue building on that legacy. We are excited by the long-term opportunities that joining BrightView will generate for us, for our team and for our customers,” they 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.