BrightView Acquires Island Plant Company
31 January 2023 - 10:30PM
Business Wire
BrightView Holdings, Inc. (NYSE: BV), the leading commercial
landscaping services company in the United States, today announced
the acquisition of Island Plant Company, LLC, a premiere resort and
condominium landscaping company in Maui, Hawaii. 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
to Maui’s AOAO (Association of Apartment Owners) and resort
properties located throughout West Maui, South Maui, and Upcountry.
Over the years, Island Plant has installed and designed landscapes
throughout 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 most recent Hawaii-based landscaping company
acquisition for BrightView. In 2022, BrightView acquired SGS Hawaii
and Performance Landscapes.
“As we continue to execute upon our long-term growth strategy,
Hawaii’s commercial landscaping business is rapidly expanding and
Island Plant’s expertise perfectly complements and strengthens our
operations in this market,” said Andrew Masterman, BrightView
President and Chief Executive Officer. “Thom and Beverly’s
dedication and passion for landscaping is reflected in the
reputation Island Plant has earned for designing, installing, and
maintaining beautiful landscapes and we’re pleased to welcome them
and their team to the BrightView family.”
“For over 35 years, Island Plant has proudly served Maui’s
business community. As we looked to the future, we felt merging
with BrightView was the right step for Island Plant,” said Thom
Foster. “BrightView’s culture, systems, and resources made them the
best answer for our succession, our clients, and our people.”
BrightView Development Services has been a licensed landscape
and irrigation contractor in Hawaii since 2008. In addition to
renovating the Hualalai Four Seasons in Kona following a tsunami in
2011, BrightView also restored the irrigation system for the Hilton
Waikoloa Village and Resort and performed landscape architecture
work at the Four Seasons Maui.
About BrightView
BrightView (NYSE: BV), the nation’s largest commercial
landscaper, proudly designs, creates, and maintains the best
landscapes on Earth and provides the most efficient and
comprehensive snow and ice removal services. With a dependable
service commitment, BrightView brings brilliant landscapes to life
at premier properties across the United States, including business
parks and corporate offices, homeowners' associations, healthcare
facilities, educational institutions, retail centers, resorts and
theme parks, municipalities, golf courses, and sports venues.
BrightView also serves as the Official Field Consultant to Major
League Baseball. Through industry-leading best practices and
sustainable solutions, BrightView is invested in taking care of our
team members, engaging our clients, inspiring our communities, and
preserving our planet. Visit www.BrightView.com and connect with us
on Twitter, Facebook, and LinkedIn.
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, profits, growth and
opportunities for synergies; 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, 2022, 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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version on businesswire.com: https://www.businesswire.com/news/home/20230127005448/en/
David Freireich, VP of Communications & Public Affairs
David.Freireich@BrightView.com 484-567-7244
Faten Freiha, VP of Investor Relations
Faten.Freiha@BrightView.com 484-567-7148
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