The closure of the agreement was effective June 30.
ROCKVILLE, Md. and CALABASAS, Calif. – The Brickman Group ("Brickman") and ValleyCrest Companies ("ValleyCrest") announced the closing of their merger, effective June 30, 2014.
“This merger combines over 140 years of industry knowledge, innovation and experience,” said Andrew Kerin, chief executive officer of the combined company. “As one company, we plan to accelerate the growth of our business – providing greater opportunities for our team members and more customized solutions for our clients throughout the lifecycle of their projects – from design, to construction, to maintenance – across all seasons. We will build on our success by continuing to focus on supporting our teams, building deep relationships with our clients and delivering the high quality solutions they expect from us.”
The new organization has approximate annual revenues of $2 billion with more than 20,000 team members nationwide who share a commitment to designing, building, and maintaining beautiful landscapes.
Roger Zino, vice chairman of the combined company, said, “This is a significant day for our companies and an exciting time for the landscape and snow services industry. We are bringing together two family-founded organizations that share the same values and a passion for their people, the environment, quality service, and the profession of landscaping. This is an ideal match that will advance the landscape profession by bringing together a passionate community of the best trained and knowledgeable landscape professionals in the country.”
The company will continue to maintain its primary locations in Rockville, Md. and Calabasas, Calif. Both Brickman and ValleyCrest brands will continue operating in the marketplace as the organizations come together. KKR has majority ownership of the combined company and MSD Capital retains a significant minority ownership interest.
For more on the merger, click these articles.
What it means.
Kerin: Brickman will remain a landscape company