Monday, March 02, 2015

Home News KKR acquires the Brickman Group

KKR acquires the Brickman Group

Industry News

The $1.6 billion deal is expected to close by the end of the year.

| November 11, 2013

NEW YORK & GAITHERSBURG, Md.-- KKR and The Brickman Group. Ltd. LLC ("Brickman" or the "Company") announced today that they have entered into a definitive agreement under which KKR will acquire Brickman for $1.6 billion from Leonard Green & Partners, L.P. and other shareholders.

The Wall Street Journal reported Leonard Green bought Brickman in 2007 for around $847 million, according to Standard & Poor's Capital IQ.

With nearly 10,000 employees nationwide, Brickman serves more than 10,000 clients. The company was ranked third on L&L's Top 100 with revenue of $821 million.

Andrew Kerin, CEO of Brickman, says "We are very pleased to partner with KKR, a leading investment firm with extensive experience in service businesses and an outstanding track record. With our partner, we are well positioned to accelerate our growth, further enhance the quality of services we provide to our clients and extend our industry leadership."

Simon Brown, member of KKR, said "Brickman is a leader in its industry, with an outstanding management team, a distinguished culture, talented and committed employees, and a track record of delivering high-quality services to its clients. We are excited to invest in the company and look forward to working closely with the Brickman leadership team to continue to build on the Company's market-leading position and grow the business over time."

The investment is being made by KKR North American Fund XI and other funds and accounts managed by KKR. The transaction, which is subject to customary closing conditions, is expected to close by the end of 2013.

Barclays Capital Inc. and Morgan Stanley and Co. LLC served as financial advisors to Brickman and Latham & Watkins LLP and Dechert served as legal advisors. Credit Suisse Securities (USA) LLC served as financial advisor to KKR and Simpson Thacher & Bartlett served as legal advisor.

The deal comes on the heels of John Deere Landscapes being sold to private equity investment firm of Clayton, Dubilier & Rice.

Top news

Gender be damned

Whether you are a man or woman, the qualities of a true leader are the same.

PLANET unveils a new name

10 years after it was formed, the industry’s national association has updated its name and logo as part of a strategic rebranding.

Southern Botanical expands to Houston

The company will begin offering services there this month.

Upcoming industry job fair

Twenty-six companies will be looking for employees on March 5.

Plants and personalities

L&L attended the iLandscape show in Illinois and learned about native landscaping and how to deal with different types people.

x