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Brickman on the block

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Leonard Green & Partners LP is exploring a sale of Brickman Group Holdings.

Reuters | August 16, 2013

According to Reuters, Leonard Green & Partners LP is exploring a sale of Brickman Group Holdings that could value the largest commercial landscaping company in the United States at up to $1.5 billion, three people familiar with the matter said this week.

Leonard Green, a Los-Angeles based private equity firm, has asked Barclays (BARC.L) and Morgan Stanley (MS.N) to run an auction for Brickman, said the people, who asked not to be identified because the process is confidential.

Representatives of Leonard Green and Brickman did not respond to requests for comment. Barclays declined to comment while Morgan Stanley did not immediately respond to a request for comment.

Gaithersburg, Maryland-based Brickman tends to gardens of offices, campuses, hotels, shopping centers, healthcare facilities, industrial parks and homes, looks after trees, removes snow and maintains sports turf across 29 states.

"It seems unlikely that the possible sale of Brickman will have much impact on the overall M&A market anytime soon. However, it is possible that a buyer might want to move to fill out Brickman’s network in the relatively few markets in which it may be perceived to be weak. It is also possible that opportunities might arise as a buyer acts to integrate Brickman’s operations into its own," said Ron Edmonds of the Principium Group, a mergers & acquisitions advisory firm, in his newsletter.

"No matter what ultimately happens with Brickman, other players in the fiercely competitive landscape services industry will no doubt be seeking opportunities to exploit the situation with both customers and employees."

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