BrightView Holdings, Inc.

BrightView Holdings, Inc.

Overview

• BrightView is a holding company. Its direct, wholly-owned operating subsidiary is BrightView Landscapes, LLC.
• The company is the largest provider of commercial landscaping services in the United States, offering services from maintenance and enhancements to tree care and landscape development.
• Operations are organized into two segments:
  • Maintenance Services (primarily self-performed via a national branch network; route-based)
  • Development Services (design, coordination, and installation of landscapes)

Scale and reach

• Branch network: over 270 branches nationwide
• Fleet: approximately 15,000 trucks and trailers
• Customer base (as of September 30, 2026):
  • ~7,400 office parks and corporate campuses
  • ~6,600 residential communities (HOAs and similar)
  • ~520 educational institutions

Workforce and sales structure

• Total employees: ~17,700 (including seasonal workers)
  • Full-time: ~16,700
  • Part-time: ~1,000
  • Corporate staff: ~400
  • Seasonal workers (H-2B program): ~800 in 2026; ~1,500 in 2025
  • Approximately 5% of employees are represented by collective bargaining agreements
• Sales and account teams:
  • More than 660 branch-level account managers
  • ~363 business developers focused on winning new local business
  • 20-person national accounts sales team
  • Branch management supported by regional operational vice presidents (average tenure ~22 years)

Financial highlights (fiscal year ended September 30, 2026)

• Total net service revenues: $2,712.6 million
• Net income: $1.0 million
• Adjusted EBITDA: $328.9 million
• Net income margin: 0.0%
• Adjusted EBITDA margin: 12.1%

Segment details

• Maintenance Services
  • Net service revenues: $2,004.6 million
  • Snow removal revenues: $293.0 million
  • Segment Adjusted EBITDA: $241.7 million
  • Segment Adjusted EBITDA margin: 12.1%
• Development Services
  • Net service revenues: $714.9 million
  • Segment Adjusted EBITDA: $87.2 million
  • Segment Adjusted EBITDA margin: 12.2%

Top customers and concentration

• The top ten customers accounted for ~17% of fiscal 2026 revenues
• No single customer accounted for more than 4% of fiscal 2026 revenues

Markets and position

• Industry: commercial landscape services (landscape maintenance, development, and snow removal) with an estimated industry size of $123 billion
• Market share: about 1.6% of the combined landscape maintenance and snow removal market (per 2026 IBISWorld data)
• Business model: a national-to-local service model designed to deliver consistent landscape services across dispersed locations

Key capabilities and technology

• Proprietary tools and systems:
  • BrightView Connect: customer-facing app for service requests and landscape photos
  • Mobile quality site assessment application for field-to-client walkthroughs and feedback
  • Integrated CRM system accessible on mobile devices to support account managers
  • Electronic time capture (ETC) system for crew leaders and field supervisors
  • Consolidated ERP migration and centralized shared services for A/R, A/P, and payroll
• Operations model:
  • Decentralized, branch-focused execution supported by centralized core functions (HR, procurement, etc.)
  • Development Services branches (approximately 50) located in major metropolitan areas; some facilities shared with Maintenance
  • Scale supports centralized procurement and standardized processes while preserving local execution

Growth and strategy

• One BrightView initiative launched in November 2023 to drive profitable growth, customer focus, frontline investment, and streamlined operations
• Business characteristics: recurring revenue, a scalable operating model, strong margins, low capital requirements, and modest working capital needs
• Strategic trends: increased customer outsourcing, movement toward sole-source contracts, and demand for higher-quality, broader-service delivery

Business model and operations

• Maintenance Services are largely contract-based and include a number of cancelable agreements (30-day notice) by either party
• Development Services contracts are fixed-price or fixed-rate, often multi-year, with execution and forecasting risks
• Seasonality:
  • Maintenance includes year-round and seasonal (snow removal) components; revenue and margins can vary by season
  • Development Services activity is generally lower in winter; seasonality affects revenues and costs
• Customer relationships are a core asset, with emphasis on long-term renewals, service quality, and breadth of offerings to retain and grow contracts

Facility and corporate information

• Corporate headquarters: 980 Jolly Road, Suite 300, Blue Bell, Pennsylvania 19422
• Public listing: IPO completed in July 2018; stock trades on the NYSE under the symbol BV
• Regulatory and investor information: company files with the SEC; information also available at BrightView’s investor site