BLUE BELL, Pa. — BrightView Holdings has authorized a share repurchase program totaling $250 million.
The repurchase program is effective immediately and allows for ongoing and profitable investment in the business while utilizing moderate balance sheet leverage and facilitating opportunistic share repurchases.
Repurchases will be made at management’s discretion through a variety of methods, such as open-market transactions (including pre-set trading plans), privately negotiated transactions, accelerated share repurchases, and other transactions in accordance with applicable securities laws. The program has no time limit.
The share repurchase authorization does not obligate the company to acquire any particular amount of common stock and can be discontinued at any time. Repurchases will be made using the company’s cash resources and there can be no assurance as to the timing or number of shares of any repurchases.
The share repurchase authorization announced today does not affect BrightView’s previously stated and ongoing mergers and acquisitions strategy.