The biggest rumor floating around in the landscape industry recently has been that CEO Michael Dell of Dell was “likely” to sell ValleyCrest (owned under MSD Capital Dell Inc.) to KKR’s Brickman unit. The price mentioned was “about $1 billion.” Not seeing the point of just passing on the rumor, we remained mum.
Well, the rumor is now confirmed: The Brickman Group and ValleyCrest Companies announced May 21, 2014 they have entered into a “definitive merger agreement.”
Brickman and ValleyCrest are both leaders in the landscape industry, and have complementary services, capabilities and geographic reach.
Following the transaction close, Andrew Kerin, CEO of Brickman, will be the CEO of the new company; Roger Zino, CEO of ValleyCrest will be vice chairman. The companies will continue to maintain their primary locations. ValleyCrest is headquartered in Calabasas, Calif., and Brickman in Rockville, Md.
Brickman and ValleyCrest will continue to serve their diversified clients, which include corporations; universities; hospitals; hotels and resorts; parks and public spaces and housing communities.
Founded in 1949, Calabasas, Calif.-based ValleyCrest Companies says it is the nation’s largest integrated landscape services company, with 11,200 employees and operations in more than 150 locations nationwide. Its divisions are landscape development; landscape maintenance; design group; tree care services; golf course maintenance; and a tree company.
Founded in 1939, The Brickman Group, Ltd. refers to itself as the leading provider of landscape maintenance and snow removal services in the U.S. Brickman reports it maintains landscapes for about 30,000 properties. Other services are design and construction, tree care, sports turf and water management.
“We share common values and have each achieved local, regional and nationwide success by putting our people and clients at the center of all that we do,” said Brickman CEO Andrew Kerin.
Combined, Brickman and ValleyCrest will have more than 20,000 team members, and annual revenue of about $2 billion.
The biggest rumor floating around in the landscape industry recently has been that CEO Michael Dell of Dell was "likely" to sell ValleyCrest to KKR's Brickman unit. The price mentioned was "about $1 billion." Well, the rumor is now confirmed: The Brickman Group and ValleyCrest Companies announced May 21 they have entered into a "definitive merger agreement."