BrightView Announces Repurchase of Shares from MSD Partners
BrightView Holdings, Inc. (NYSE: BV) today announced that it has entered into an agreement to repurchase 5.9 million shares of BrightView common stock from MSD Partners and affiliates at a purchase price of $13.98 per share, representing a 2 percent discount from the NYSE official closing price of BrightView common stock on December 7, 2021. The repurchase represents half of MSD Partners’ current equity investment in BrightView.
The total purchase price for the shares will be approximately $82.5 million and will be funded from cash and cash equivalents on hand, as well as borrowings under the Company’s credit facilities. The transaction is subject to customary closing conditions and expected to be completed in January 2022. Giving effect to the repurchase, MSD Partners would own approximately 5.9 million of BrightView’s 99.3 million outstanding shares.
The repurchase announced today was made in connection with BrightView’s share repurchase program announced December 6, 2021.
About BrightView:
BrightView (NYSE: BV), the nation’s largest commercial landscaper, proudly designs, creates, and maintains the best landscapes on Earth and provides the most efficient and comprehensive snow and ice removal services. With a dependable service commitment, BrightView brings brilliant landscapes to life at premier properties across the United States, including business parks and corporate offices, homeowners' associations, healthcare facilities, educational institutions, retail centers, resorts and theme parks, municipalities, golf courses, and sports venues. BrightView also serves as the Official Field Consultant to Major League Baseball. Through industry-leading best practices and sustainable solutions, BrightView is invested in taking care of our team members, engaging our clients, inspiring our communities, and preserving our planet. Visit www.BrightView.com and connect with us on X (formerly Twitter), Facebook, and LinkedIn.
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