Blackstone, KKR compete for landscaper Brickman Group -sources

NEW YORK Wed Nov 6, 2013 4:37am IST

Stocks

   

NEW YORK Nov 5 (Reuters) - Blackstone Group LP and KKR & Co LP are among the buyout firms vying for Brickman Group Holdings Inc, the largest U.S. commercial landscaping company up for sale for around $1.5 billion, according to people familiar with the matter.

TPG Capital LP and CVC Capital Partners Ltd are also participating in the auction for Brickman, which is now in its final stages, the sources said this week, asking not to be identified because the sale process is confidential.

Leonard Green & Partners LP, a Los Angeles-based, private equity firm, has asked Barclays Plc and Morgan Stanley to run an auction for Brickman, people familiar with the matter told Reuters in August.

Neither Leonard Green nor Brickman responded to requests for comments. Blackstone, TPG and CVC declined to comment while a KKR spokeswoman did not immediately respond to a request for comment.

Gaithersburg, Maryland-based Brickman tends to the gardens of offices, campuses, hotels, shopping centers, healthcare facilities, industrial parks and homes, looks after trees, removes snow and maintains sports turf across 29 states.

Leonard Green acquired a majority stake in Brickman in January 2007 in a $847 million deal in which members of the Brickman family and the company's management retained equity interests. The buyout firm committed $222 million of equity to the deal, according to a November 2006 regulatory filing.

Scott Brickman, whose grandfather founded the eponymous company in 1939, stepped down as chief executive last year after 14 years at the helm to become its chairman. He succeeded his father Dick, who became chairman emeritus.

Brickman's CEO is now Andrew Kerin, a former senior executive at Aramark Corp, another private equity-backed company.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Tobacco Control

Tobacco Control

India moves toward ban on loose cigarettes to deter smoking   Full Article 

Modi at SAARC

Modi at SAARC

Modi gives Buddha a miss as SAARC leaders flock to Nepal.  Full Article 

Reuters Insight

Reuters Insight

In Modi’s India, green shoots of reform from Rajasthan.  Full Article 

Investing in ETFs

Investing in ETFs

U.S. investors elevate India over other emerging markets  Full Article 

J&K Elections

J&K Elections

Kashmiris turn out to vote as BJP bids for power  Full Article 

Trade Talks

Trade Talks

India, U.S. hold first trade dialogue in four years  Full Article 

Modi's Wife

Modi's Wife

Modi's estranged wife unhappy over round-the-clock security  Full Article 

Global Economy

Global Economy

OECD sees gradual world recovery, urges ECB to do more  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage