M&A Deal Summary

CIVC Partners, Leonard Green & Partners, York Street Capital Partners and Crescent Capital Group Acquire BrightView

On January 25, 2007, private equity firm CIVC Partners, private equity firm Leonard Green & Partners, mezzanine finance firm York Street Capital Partners and mezzanine finance firm Crescent Capital Group acquired business services company BrightView from CIVC Partners for 847M USD

Acquisition Highlights
  • This is CIVC Partners’ 4th, Leonard Green & Partners’ 1st, York Street Capital Partners’ 1st and Crescent Capital Group’s 5th transaction in the Business Services sector.
  • This is CIVC Partners’ 2nd, Leonard Green & Partners’ 17th, York Street Capital Partners’ and Crescent Capital Group’s 10th largest (disclosed) transaction.
  • This is CIVC Partners’ 34th, Leonard Green & Partners’ 22nd, York Street Capital Partners’ 13th and Crescent Capital Group’s 28th transaction in the United States.
  • This is CIVC Partners’ 2nd, Leonard Green & Partners’ 1st, York Street Capital Partners’ 1st and Crescent Capital Group’s 3rd transaction in Maryland.
Investment Fate
  • BrightView was sold to a consortium of financial buyers in 2013 for 1.6B USD.
  • BrightView went public in 2018.
  • BrightView was sold to a financial buyer in 2023.

M&A Deal Summary

Date 2007-01-25
Target BrightView
Sector Business Services
Buyer(s) CIVC Partners
Leonard Green & Partners
York Street Capital Partners
Crescent Capital Group
Sellers(s) CIVC Partners
Deal Type Recapitalization
Deal Value 847M 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) 4

Buyer

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 35 of 76
Sector (Business Services) 4 of 13
Type (Recapitalization) 1 of 3
State (Maryland) 2 of 3
Country (United States) 34 of 72
Year (2007) 1 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-07 Ownit Mortgage

Agoura Hills, California, United States

Ownit Mortgage Solutions operates as a wholesale mortgages lender. It offers various loan products to homebuyers and mortgage brokers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 GWC Warranty

Wilkes-Barre, Pennsylvania, United States

GWC Warranty is a provider of vehicle service contracts and related finance and insurance products sold through automotive dealers. GWC provides sales and marketing claims administration, and insurance for its customers. GWC Warranty was founded in 1995 and is based in Wilkes-Barre, Pennsylvania.

Buy -
Buyer

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 22 of 102
Sector (Business Services) 1 of 9
Type (Recapitalization) 2 of 8
State (Maryland) 1 of 1
Country (United States) 22 of 94
Year (2007) 1 of 3
Size (of disclosed) 17 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-18 David s Bridal

Conshohocken, Pennsylvania, United States

David’s Bridal is a retailer of bridal gowns and bridal-party related merchandise through its David’s Bridal stores and Priscilla of Boston stores. David’s Bridal stores provide an assortment of designer wedding gowns, special occasion dresses and accessories at affordable prices. Known for value, fashionable designs and the ease of one-stop shopping, David’s Bridal designs, produces and sells a wide selection of styles and sizes through a network of over 300 US and 5 Canadian stores. David's Bridal is based in Conshohocken, Pennsylvania.

Buy $750M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-17 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.

Buy -
Buyer

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 13 of 18
Sector (Business Services) 1 of 2
Type (Recapitalization) 4 of 4
State (Maryland) 1 of 1
Country (United States) 13 of 16
Year (2007) 1 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-08 Hudson Products

Beasley, Texas, United States

Hudson Products Corp. is a provider of heat transfer solutions firms providing air-cooled heat exchangers and axial-flow fans to some of the largest processors in the petroleum, natural gas, power generation, petrochemical and chemical industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-03 Performance Bicycle

Chico, California, United States

Performance Bicycle is an independent bicycle dealer and direct marketer of bicycles and cycling accessories in the United States. Performance Bicycle is based in Chico, California.

Buy -
Buyer

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 33 of 67
Sector (Business Services) 5 of 6
Type (Recapitalization) 2 of 3
State (Maryland) 3 of 3
Country (United States) 28 of 54
Year (2007) 1 of 5
Size (of disclosed) 10 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-03 BrandSafway

Atlanta, Georgia, United States

BrandSafway is a provider of specialized services to the global energy, industrial, and infrastructure markets. Its range of service offerings includes work access, corrosion management, atmospheric and immersion coatings, insulation services, fireproofing and refractory, mechanical services, forming and shoring, and other complementary specialty services. Brand delivers its services through a network of more than 370 branches on six continents, with a focus on the major hydrocarbon and power generation markets globally. BrandSafway was founded in 1919 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-07 Tim Hellas Telecommunications S.A

Maroussi, Greece

Tim Hellas Telecommunications S.A provides mobile telecommunications services in Greece.

Sell €3.4B

Seller(S) 1

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 24 of 48
Sector (Business Services) 3 of 10
Type (Recapitalization) 1 of 2
State (Maryland) 1 of 2
Country (United States) 24 of 47
Year (2007) 1 of 2
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-07 Ownit Mortgage

Agoura Hills, California, United States

Ownit Mortgage Solutions operates as a wholesale mortgages lender. It offers various loan products to homebuyers and mortgage brokers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 GWC Warranty

Wilkes-Barre, Pennsylvania, United States

GWC Warranty is a provider of vehicle service contracts and related finance and insurance products sold through automotive dealers. GWC provides sales and marketing claims administration, and insurance for its customers. GWC Warranty was founded in 1995 and is based in Wilkes-Barre, Pennsylvania.

Buy -