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BrightView Holdings Priced, NYSE: BV

Largest provider of commercial landscaping services in the US.

Industry: Industrials

First Day Return: -2.7%

Industry: Industrials

We are the largest provider of commercial landscaping services in the United States, with revenues more than 10 times those of our next largest commercial landscaping competitor. We provide commercial landscaping services ranging from landscape maintenance and enhancements to tree care and landscape development. We operate through a differentiated and integrated national service model which delivers services at the local level by combining our network of over 200 branches with a qualified service partner network. Our branch delivery model underpins our position as a single-source end-to-end landscaping solution provider to our diverse customer base at the national, regional and local levels, which we believe represents a significant competitive advantage. We serve approximately 13,000 office parks and corporate campuses, 9,000 residential communities and 450 educational institutions. Our top ten customers accounted for approximately 12% of our FY17 revenues, and no single customer was more than 3%. We believe our commercial customer base considers our services to be essential and non-discretionary. This creates recurring revenue and enhances the predictability of our business model, as demonstrated by our landscape maintenance contract renewal rate of approximately 85% for each of calendar year 2016 and 2017.
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BrightView Holdings (BV) Performance