BrightView Holdings approves $100M share repurchase program

BrightView Holdings, the No. 1 landscaping company on Lawn & Landscape's Top 100 list, and its board of directors have authorized a share repurchase program totaling $100 million.

The repurchase program allows for ongoing investment in the business, while utilizing moderate balance sheet leverage and facilitating opportunistic share repurchases.

“As part of our continued focus on strategically allocating capital and driving shareholder value, we are pleased to announce this new share repurchase program,” says BrightView President and CEO Dale Asplund. “The strength in our balance sheet, coupled with our current valuation and unwavering commitment to drive sustainable and long-term profitable growth, gives us the confidence to reinstitute our share repurchase program and return capital to shareholders in a disciplined and opportunistic manner.”

Any repurchases will be made at management’s discretion and may be through a variety of methods, such as open-market transactions (including pre-set trading plans), accelerated share repurchases, and other transactions in accordance with applicable securities laws. The company anticipates repurchase activities to occur over an extended period of time, potentially in its second fiscal quarter and in future fiscal years. 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.