Company: BrightView Holdings, Inc.
Symbol: BV
Description: They are the largest provider of commercial landscaping services in the United States, with revenues more than 10 times those of their next largest commercial landscaping competitor.
Trade Date: 6/28
Shares: 21.3 million
Price Range: $22.00-$25.00
Underwriter(s): Goldman Sachs, J.P. Morgan, KKR, UBS Investment Bank, Baird, Credit Suisse Macquarie Capital, Jefferies, Mizuho Securities, Morgan Stanley, RBC Capital Markets
Co-Manager(s): Nomura, Stifel, William Blair, Moelis & Company, SMBC Nikko
Terms Added: 6-18-18
Business: They provide commercial landscaping services, ranging from landscape maintenance and enhancements to tree care and landscape development. They operate through a differentiated and integrated national service model which systematically delivers services at the local level by combining their network of over 200 branches with a qualified service partner network. Their branch delivery model underpins their position as a single-source end-to-end landscaping solution provider to their diverse customer base at the national, regional and local levels, which they believe represents a significant competitive advantage.
Financials: Their net service revenues were $917.2 million, $1612.5 million, $2214.8 million, $2185.3 million, and $2264.7 million and their net income (loss) was ($45.4 million), ($20.6 million), ($50.5 million), ($40.6 million), ($52.4 million) and $5.3 million in 2013, 2014, 2015, 2016, and 2017, respectively. In the first half of 2018, their net service revenues increased 10.7% to $1,141.5 million and their net loss decreased 94.9% to $2.7 million.
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