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Business Wire 25-Jan-2023 6:30 AM
BrightView Holdings, Inc. (NYSE:BV), the leading commercial landscaping services company in the United States, today announced the acquisition of Smith's Tree Care, Inc., a leading tree care service provider, based in Newport News, Va. Terms of the transaction were not disclosed.
Smith's Tree Care, founded in 2005 by Dave Smith, provides a host of services, including tree care, tree trimming and pruning, tree removal, and stump grinding. The addition of Smith's Tree Care complements and strengthens BrightView's existing tree care services expertise in the greater Hampton Roads marketplace.
"The acquisition of Smith's Tree Care in a solid market, like Hampton Roads, further reinforces our strong-on-strong M&A strategy," said Andrew Masterman, BrightView President and CEO. "Dave's and Uwe Troxler's hard work over the past 17 years has elevated Smith's Tree Care to one of the market's top tree service companies. We're excited to welcome them to the BrightView Tree Care Services family as we work together to provide exceptional quality service and continue to position ourselves as the region's preferred commercial tree care provider."
"Smith's Tree Care has had the pleasure of serving the Hampton Roads community and providing best-in-class tree care service, for nearly 20 years," said Smith. "As we looked to the future, combining forces with BrightView was a logical next step that puts us in the best position to expand and grow the business. I'm forever grateful for the dedication of our talented arborists and tree experts and am certain they will continue to thrive as valued members of the BrightView family."
About BrightView BrightView ((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.
Source: BrightView Landscapes