A massive Maryland landscaping firm has announced that it will merge with a California-based entity known as ValleyCrest Communities. The Maryland firm, The Brickman Group, reportedly finalized the merger in late June. Brickman was subject to a business acquisition by a global private entity known as KKR in November for about $1.6 billion; the merger now unites that company with the California-based organization.
Official reports show that both ValleyCrest and Brickman will continue to operate under their existing brands. The merger has created a new organization with tens of thousands of employees and $2 billion in collective revenue, according to news reports. KKR will maintain a majority ownership, and MSD Capital holds a large minority share.
Brickman was initially founded by a horticulturalist in Illinois who performed landscaping work out of his pickup truck. The firm, created in 1939, grew rapidly to become one of the behemoths of the industry, with nationwide services including lawn maintenance, snow removal and landscaping. The company has remained under family control since that time, with son and grandson taking the reins in subsequent decades. ValleyCrest is also one of the largest service providers in the industry; it was founded in 1949 in Calabasas, California, and boasts, 11,200 employees.
This type of major business acquisition and merger takes legal and financial finesse to complete. Attorneys play a crucial role in guiding companies through the act of purchasing a business, providing important legal guidance to avoid potential liability and snags in the process. From the largest corporate merger to the most modest neighborhood acquisition, an attorney's input may be the key to success in the purchase or sale of a business.
Source: Columbus CEO, "Maryland Landscaping Group Merges with California's Valleycrest" Thomas Heath, Jul. 02, 2014