Plymouth Meeting’s BrightView Holdings to Launch IPO

Plymouth Meeting-based BrightView Holdings, Inc. announced yesterday the launch of its initial public offering of 21,300,000 shares of its common stock. The initial public offering price is expected to be between $22 and $25 per share. BrightView expects to grant the underwriters a 30-day option to purchase up to an additional 3,195,000 shares of its common stock.

BrightView is the largest provider of commercial landscaping services in the United States and has approximately 19,000 employees, BrightView provides services such as landscape maintenance and enhancements, tree care and landscape development. Clients include corporate and commercial properties, HOAs, public parks, hotels and resorts, hospitals and other healthcare facilities, educational institutions, restaurants and retail, and golf courses.

BrightView’s common stock has been approved for listing on the New York Stock Exchange under the symbol “BV.”

BrightView intends to use the net proceeds from the offering to repay borrowings outstanding under its second lien term loan facility and its revolving credit facility and, to the extent there are any remaining proceeds, to repay borrowings outstanding under its first lien term loan facility.