BrightView Acquires Florida and Arizona Commercial Landscaping Companies from Firstservice Residential
BrightView Holdings, Inc. (NYSE: BV) (“the Company” or “BrightView”), the leading commercial landscaping services company in the United States, today announced the acquisition of Luke’s Landscaping, Inc. (“Luke’s”) and Desert Classic Landscaping (“Desert Classic”), both previously owned and operated by FirstService Residential, a subsidiary of FirstService Corporation (TSX: FSV; NASDAQ: FSV). Terms of the transaction were not disclosed.
Both Luke’s and Desert Classic are leading, single-source, year-round landscape service providers, offering a full suite of commercial landscaping solutions, including grounds management, landscape enhancement, irrigation, spray and arbor services. Luke’s was founded more than 40 years ago and currently operates two branches in South Florida with nearly 250 employees, serving customers between Coral Springs and Miami. Desert Classic was established in 2002 and currently operates two branches with more than 250 employees serving customers across the entire valley area of Phoenix, Ariz.
“We are pleased to be strengthening our presence in two important evergreen markets: South Florida and Phoenix. I’d like to welcome the nearly 500 talented employees, and the customers they serve across both markets, to the BrightView family,” said Andrew Masterman, BrightView President and Chief Executive Officer. “Halfway through our third fiscal quarter, we are well-positioned to achieve our fiscal 2019 target for realized acquired revenue as well as our baseline target ‘wrap-around’ from acquired revenue for fiscal 2020. We look forward to working with both teams to continue delivering the intense customer focus that our customers have come to expect from BrightView.”
About FirstService Corporation
FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America’s largest manager of residential communities; and FirstService Brands, one of North America’s largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.
FirstService generates approximately US$2 billion in annual revenues and has more than 20,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The common shares of FirstService trade on NASDAQ and the Toronto Stock Exchange under the symbol “FSV”.
BrightView is the largest provider of commercial landscaping services in the United States. Through its team of approximately 20,000 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.