Leonard Green explores sale of Brickman

By IVCPOST Staff Reporter

Aug 15, 2013 09:38 PM EDT

Los Angeles private equity company, Leonard Green & Partners LP had asked Barclays and Morgan Stanley to handle an auction for Brickman Group Holdings Inc., a large commercial landscaping company in the United States.  This move by Leonard Green could set in motion the sale of Brickman largely valued at about USD1.5 billion.

In January 2007, Leonard Green acquired majority holdings in Brickman through a USD847 million buyout with the Brickman family and company management.  According to a regulatory filing, Leonard Green committed USD222 million of equity.  In the buyout, members of the Brickman family and management retained equity interests.

Based in Gaithersburg, Maryland, Brickman looks after the gardens of many offices, school campuses, hotels, healthcare facilities, industrial parks, homes and shopping centers.  The company also tends to trees, clears snow and maintains sports areas across the country, specifically 29 states in the continental United States.

Former Aramark Corporation executive Andrew Kerin is Brickman's current CEO.

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