M&A Deal Summary

KKR Acquires BrightView

On November 11, 2013, private equity firm KKR acquired business services company BrightView from CIVC Partners, Leonard Green & Partners, York Street Capital Partners and Crescent Capital Group for 1.6B USD

Acquisition Highlights
  • This is KKR’s 2nd transaction in the Business Services sector.
  • This is KKR’s 56th largest (disclosed) transaction.
  • This is KKR’s 61st transaction in the United States.
  • This is KKR’s 2nd transaction in Maryland.
Investment Fate
  • BrightView went public in 2018.
  • BrightView was sold to a financial buyer in 2023.

M&A Deal Summary

Date 2013-11-11
Target BrightView
Sector Business Services
Buyer(s) KKR
Sellers(s) CIVC Partners
Leonard Green & Partners
York Street Capital Partners
Crescent Capital Group
Deal Type Secondary Buyout
Deal Value 1.6B USD

Target

BrightView

Blue Bell, Maryland, United States
BrightView is a provider of commercial landscaper, designs, creates, and maintains the landscapes on earth and provides comprehensive snow and ice removal services. BrightView was founded in 1939 and is based in Blue Bell, Maryland.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 137 of 483
Sector (Business Services) 2 of 17
Type (Secondary Buyout) 26 of 107
State (Maryland) 2 of 6
Country (United States) 61 of 210
Year (2013) 19 of 21
Size (of disclosed) 56 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-15 SBB

Beograd, Serbia

SBB is a cable TV and broadband internet operator in Europe, and Mid-Europa and is committed to the continued development of cable TV and internet business. SBB was formed in 2002 and is based in Beograd, Serbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-21 Winoa

Le Cheylas, France

Winoa is a manufacturer of steel abrasives across the transportation, equipment, energy and construction end-markets. Winoa successfully serves a diverse customer base of over 10,000 customers worldwide. WHA Holding SAS is headquartered in Le Cheylas, France with 11 manufacturing facilities in Europe, North America, South America, Asia, and Africa.

Buy -

Seller(S) 4

SELLER

CIVC Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1970
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CIVC Partners is a private equity firm that provides buyout and growth capital to middle-market businesses located in the US and Canada. CIVC invests in companies generating sales of $40 - $300 million with an EBITDA of $5 to $25 million. Sectors of interest include Business Services, Information Services, Facility Services, Insurance Services, Transportation & Logistics, Tech-enabled Services, BPO, SaaS, Compliance Services, Corporate Training, IT Services, and Utility Services. The firm invests in the range of $20 - $100 million per transaction. CIVC prefers to be the lead equity sponsor and will consider both majority and minority investment situations. CIVC Partners was formed in 1970 and is based in Chicago, Illinois.


DEAL STATS #
Overall 32 of 48
Sector (Business Services) 5 of 10
Type (Secondary Buyout) 12 of 19
State (Maryland) 2 of 2
Country (United States) 32 of 47
Year (2013) 4 of 4
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-08 EPIC Technologies

El Paso, Texas, United States

EPIC Technologies, LLC is a rapidly growing provider of electronic manufacturing services (EMS), supplying printed circuit board assemblies (PCBAs) and related components to major electronic product manufacturers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-05 Track Utilities

Meridian, Idaho, United States

Track Utilities LLC provides mission-critical electric and telecommunications infrastructure services in the Northwest and Intermountain West. Track has deep, long-standing relationships with the major electric utilities and telecom providers in its territory and is unique in its ability to offer customers a full suite of aerial telecom, underground telecom, overhead electric, underground electric, joint utility trenching, and directional drilling services.

Buy -
SELLER

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 17 of 54
Sector (Business Services) 2 of 3
Type (Secondary Buyout) 6 of 18
State (Maryland) 1 of 1
Country (United States) 16 of 51
Year (2013) 4 of 4
Size (of disclosed) 5 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 The Container Store

Coppell, Texas, United States

The Container Store is a specialty retailer of storage and organizational solutions. The Company currently operates highly-productive destination specialty retail stores across the U.S., an internet and mail order business, and a wholesale business. The Container Store was founded in 1978 and is based in Coppell, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-20 Caliber

Lewisville, Texas, United States

Caliber is a multi-site operator of auto body collision repair centers in the United States with a nationwide footprint that includes over 1,000 centers. Caliber provides repair solutions that enable its insurance company partners to improve customer satisfaction and drive policyholder retention while also reducing repair costs in the claims process. Caliber was founded in 1997 and is based in Lewisville, Texas.

Buy -
SELLER

York Street Capital Partners

Bedminster, New Jersey, United States

Investor


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 559M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

York Street Capital Partners is an investment firm focused on providing mezzanine and equity capital to private equity sponsors. York Street looks to fund acquisitions, buyouts, growth capital, and recapitalizations of middle-market companies. Target sectors include consumer products and services, business services, manufacturing and industrial, aerospace, retail, restaurants, healthcare, transportation and logistics, food, and agriculture. York Street Capital Partners was formed in 2002 and is based in Bedminster, New Jersey.


DEAL STATS #
Overall 12 of 17
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 5 of 8
State (Maryland) 1 of 1
Country (United States) 11 of 15
Year (2013) 2 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-09 Miller Heiman

Chicago, Illinois, United States

Miller Heiman is a sales performance training and consulting firm, serving clients in over 35 countries and working with some of the most respected companies in the world. Miller Heiman was formed in 1960 and is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 International Fitness Holdings

Calgary, Alberta, Canada

International Fitness Holdings is a health club operator offering a variety of health-related services including flexible gym membership options, dynamic group exercise classes, personal training, and athletic therapy. International Fitness Holdings is based in Calgary, Alberta.

Sell -
SELLER

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $35 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 25 of 47
Sector (Business Services) 4 of 5
Type (Secondary Buyout) 6 of 13
State (Maryland) 3 of 3
Country (United States) 21 of 40
Year (2013) 2 of 2
Size (of disclosed) 8 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 The Container Store

Coppell, Texas, United States

The Container Store is a specialty retailer of storage and organizational solutions. The Company currently operates highly-productive destination specialty retail stores across the U.S., an internet and mail order business, and a wholesale business. The Container Store was founded in 1978 and is based in Coppell, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-15 Hubbardton Forge

Castleton, Vermont, United States

Hubbardton Forge is a designer and manufacturer of innovative, high quality lighting products. The company’s wrought-iron lighting products are sold for both residential and commercial applications. Hubbardton Forge was founded in 1974 and is based in Castleton, Vermont.

Buy -