BrightView Snaps up West Bay Landscape
Commercial landscaping services provider BrightView Holdings (BV) has acquired landscape maintenance firm West Bay Landscape. Acquisition terms remained undisclosed.
BrightView’s services range from landscape maintenance and enhancements to tree care. It caters to different types of properties such as corporate, commercial, public parks, hotels, hospitals, and golf courses.
West Bay chiefly focuses on commercial landscape maintenance and caters to clients within a 30-mile radius of its location in Bradenton, south of Tampa Bay.
BrightView CEO and President Andrew Masterman said, “West Bay is a leader in the Central Florida market and represents an important addition to our existing landscape maintenance operations.” (See BrightView stock chart on TipRanks)
Masterman added, “Over the past four decades, West Bay has grown steadily and today is one of the region’s top landscape maintenance firms.”
Recently, Robert W. Baird analyst Andrew Wittmann assigned the stock a Hold rating and increased the price target to $19 (10.5% upside potential) from $16.
BrightView stock has risen about 45% over the past year. Wittmann believes after this price rise the stock is trading at a premium versus its peers and BrightView is “Still a decent value idea, just less so.”
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