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The Financial Times: ValleyCrest, Brickman may merge

April 24, 2014 -  By

The investment firm that owns ValleyCrest Cos. may sell it to the Brickman Group’s ownership, The Financial Times (FT) reports. Such a deal would create the largest landscape firm in the U.S. with annual revenue approaching $2 billion.

Brickman, which private equity firm KKR purchased in November for $1.6 billion, reported 2013 annual revenue of $920 million to Landscape Management for the 2014 LM150 report, due out in June. Brickman is based in Rockville, Md., and has 150 branches and 10,000 employees nationwide.

ValleyCrest, based in Calabasas, Calif., has been owned primarily by Michael Dell’s MSD Capital since 2006. It reported 150 branches and $992 million in 2013 annual revenue to LM. It did not disclose employee figures.

“The corporate gardening business is attractive to private equity investors because it offers stable, predictable income even during times of economic depression, as companies spend on maintaining gardens to prevent an image of decline,” FT says. “The industry is also expected to gain from the rebound in the U.S.’s construction market, as housebuilders and office developers attach green space to their projects.”

KKR and MDS Capital both declined to comment on the FT report to LM. Brickman and ValleyCrest officials could not be reached immediately for comment.

Marisa Palmieri

About the Author:

Marisa Palmieri is an experienced Green Industry editor who's won numerous awards for her coverage of the landscape and golf course markets from the Turf & Ornamental Communicators Association (TOCA), the Press Club of Cleveland and the American Society of Business Publication Editors (ASBPE). In 2007, ASBPE named her a Young Leader. She graduated with a Bachelor of Science in Journalism, cum laude, from Ohio University’s Scripps School of Journalism.

1 Comment on "The Financial Times: ValleyCrest, Brickman may merge"

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  1. Don Crawford says:

    If I was any regional or local competitor, I would gear up for a siginicant influx of business. Both companies have struggled for years to maintain customer-oriented flexibility. ValleyCrest has been actively sloughing off smaller accounts for years because these customers don’t fit the model. What they are really saying is, “our operational model is too expensive and our policies and proceedures are too rigid to properly serve customers of less than 5-10k per year.

    There are only so many multi-million dollar annual accounts out there. It is a pretty good guess that either Brickman or ValleyCrest have or, are serving them. Merry Christmas to the rest of the industry.

    One last thought for those who have forgotten, Trugreen LandCare was once the 900lbs Gorrilla in the room. Where are they now?