BLUE BELL, Pa.–(BUSINESS WIRE)–Mar. January 2023–
BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping company in the United States, today announced that it has acquired Island Plant Company, LLC, a premier resort and condominium landscaping company in Maui, Hawaii. The terms of the transaction were not disclosed.
Founded in 1986 by Thom and Beverly Foster, Island Plant Company provides landscape maintenance, installation and design services for Maui’s AOAO (Association of Apartment Owners) and resort properties throughout West Maui, South Maui and Upcountry. Over the years, Island Plant has installed and designed landscapes in all of Maui’s resort areas, including Ka’anapali Golf Estates, Pineapple Hill, Plantation Estates, Honolua Ridge, Wailea Golf Vistas, Wailea Golf Estates and Wailea Highlands.
Island Plant is the latest acquisition by a Hawaii-based landscaping company for BrightView. In 2022, BrightView acquired SGS Hawaii and Performance Landscapes.
“Hawaii’s commercial landscaping business is expanding rapidly as we continue to execute our long-term growth strategy, and Island Plant’s expertise perfectly complements and strengthens our operations in this market,” said Andrew Masterman, President and Chief Executive Officer of BrightView. “Thom and Beverly’s dedication and passion for landscape design is reflected in the reputation Island Plant has built for designing, installing and maintaining beautiful landscapes and we are delighted to have them and their team in the BrightView family to welcome.”
“For over 35 years, Island Plant has proudly served the Maui business community. As we looked to the future, we felt that merging with BrightView was the right move for Island Plant,” said Thom Foster. “BrightView’s culture, systems and resources have made BrightView the best solution for our succession, our customers and our employees.”
BrightView Development Services has been a licensed landscaping and irrigation contractor in Hawaii since 2008. In addition to renovating the Hualalai Four Seasons in Kona after a 2011 tsunami, BrightView also restored the irrigation system for the Hilton Waikoloa Village and Resort and performed landscape architecture work at the Four Seasons Maui.
BrightView (NYSE: BV), the nation’s largest commercial landscaper, proudly designs, creates and maintains the world’s finest landscapes and provides the most efficient and comprehensive snow and ice removal services. With a reliable service promise, BrightView brings brilliant landscapes to life in prime properties across the United States, including business parks and corporate offices, homeowners associations, healthcare facilities, educational institutions, retail centers, resorts and theme parks, communities, golf courses, and sports venues. BrightView also serves as the Official Field Service Advisor for Major League Baseball. Through industry-leading best practices and sustainable solutions, BrightView invests in caring for our team members, engaging our customers, inspiring our communities and preserving our planet. Visit www.BrightView.com and contact us at TwitterFacebook and LinkedIn.
This press release may contain 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 regarding our expectations regarding the operating results of 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,” “goal,” “expects,” “potential,” “continue,” “estimates,” “anticipates,” or the negative versions of those 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 realize the anticipated benefits of the acquisition transaction, including revenue, earnings, growth and synergy opportunities; BrightView may not be able to successfully implement integration strategies; Operating results may be lower than expected; operating costs, customer losses and business disruption may be greater than anticipated; 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 are discussed under “Item 1A. Risk Factors” on our Form 10-K for the year ended September 30, 2022, as these factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission, which are available 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 contained in this press release and in our filings with the SEC. Any forward-looking statement in this press release speaks only as of the date on which it is made. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
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KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEY WORD: CONSTRUCTION & REAL ESTATE LANDSCAPE
SOURCE: BrightView Landscapes
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PUB: 1/31/2023 6:30 AM / DISC: 1/31/2023 6:32 AM