US PRIVATE equity titan KKR yesterday won the race to buy US landscaper The Brickman Group in a deal worth $1.6bn (£1bn).
The firm, managed by Wall Street raider Henry Kravis and his cousin George Roberts, beat off a host of rivals – thought to include Blackstone, TPG Capital and UK private equity stalwarts CVC Capital Partners – to take control of the company.
Seller Leonard Green & Partners had appointed Barclays and Morgan Stanley to sell the company earlier this year.
The landscaper dates to before the second world war and is the biggest landscaper of its kind in the US, with 10,000 customers and 10,000 employees.
“Brickman is a leader in its industry, with an outstanding management team, a distinguished culture, talented and committed employees, and a track record of delivering high-quality services to its clients,” KKR’s Simon Brown said.
City A.M. Reporter