BLUE BELL, Pa. — BrightView Holdings has entered into an agreement to repurchase 5.9 million shares of BrightView common stock from MSD Partners and affiliates at a purchase price of $13.98 per share, representing a 2 percent discount from the NYSE official closing price of BrightView common stock on December 7, 2021.
The repurchase represents half of MSD Partners’ current equity investment in BrightView.
READ MORE: BrightView announces share repurchasing program
The total purchase price for the shares will be approximately $82.5 million and will be funded from cash and cash equivalents on hand, as well as borrowings under the Company’s credit facilities. The transaction is subject to customary closing conditions and expected to be completed in January 2022. Giving effect to the repurchase, MSD Partners would own approximately 5.9 million of BrightView’s 99.3 million outstanding shares.
Latest from Lawn & Landscape
- Hilltip adds extended auger models
- What 1,000 techs taught us
- Giving Tuesday: Project EverGreen extends Bourbon Raffle deadline
- Atlantic-Oase names Ward as CEO of Oase North America
- JohnDow Industries promotes Tim Beltitus to new role
- WAC Landscape Lighting hosts webinar on fixture adjustability
- Unity Partners forms platform under Yardmaster brand
- Fort Lauderdale landscaper hospitalized after electrocution
