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BrightView Holdings, Inc. (NYSE: BV) ("BrightView"), the leading commercial landscaping services company in the United States, today announced the acquisition of WLE LLC, a commercial landscape maintenance and development company headquartered in Austin, Texas. Terms of the transaction were not disclosed.
Founded in 2003, WLE (Water | Land | Environment) is a full-service commercial landscape management company, whose 250-member team serves HOA, developer, commercial, and municipal clients across three markets in Central Texas. In addition to WLE’s field and administrative staffs, WLE’s core leadership team will join BrightView as part of the transaction.
"We are excited to welcome WLE into the company," said BrightView CEO and President Andrew Masterman. "WLE has built a solid reputation in Central Texas -- a key growth market for BrightView -- that is rooted in the quality of their work in landscape maintenance. WLE shares our commitment to responsible, sustainable and safe operations across their portfolio."
Kade Thomas of Davenforth Capital Management LLC, owner of WLE, said, "We remain committed to providing responsive and high-quality service to our customers. We are eager to learn from one another as we continue to build a powerhouse in commercial landscaping together in the Central Texas market."
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, 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, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201102005210/en/
Fred Jacobs, VP of Communications & Public Affairs
John Shave, VP of Investor Relations