Categories: U.S. Investing

KKR Agrees to Buy Landscaper Brickman for $1.6 Billion

Gage Skidmore, CC BY SA 2.0

KKR Agrees to Buy Landscaper Brickman for $1.6 Billion (Bloomberg)

KKR & Co. (KKR), a private-equity firm led by Henry Kravis and George Roberts, agreed to buy landscape-maintenance company Brickman Group Ltd. from Leonard Green & Partners LP for $1.6 billion. KKR’s investment will come from its 11th North American buyout fund, as well as other pools of money, the New York-based firm announced. Leonard Green & Partners, a Los Angeles-based private-equity firm, acquired closely held Brickman in 2006 for an undisclosed sum, according to data compiled by Bloomberg.One of the recommended holdings of Dr. Mark Skousen (see photo) in his Forecasts & Strategies investment newsletter, KKR is up more than 64 percent so far this year. Private-equity firms are investing in landscaping businesses as construction picks up following the financial crisis. Clayton Dubilier & Rice LLC, a buyout firm led by Don Gogel, agreed to buy the majority of Deere & Co.’s landscaping business last month in a $465 million deal. U.S. housing starts have risen 19 percent in the past year, according to national data released Nov. 8.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.