KKR to Acquire Brickman Group for $1.6 Billion

KKR and The Brickman Group have entered into a definitive agreement under which KKR will acquire Brickman for $1.6 billion from Leonard Green & Partners, L.P. and other shareholders.

“With our partner, we are well positioned to accelerate our growth, further enhance the quality of services we provide to our clients and extend our industry leadership,” says Andrew Kerin, Chief Executive Officer, Brickman, in a statement.

The investment is being made by KKR North American Fund XI and other funds and accounts managed by KKR. The transaction, which is subject to customary closing conditions, is expected to close by the end of 2013.

Barclays Capital Inc. and Morgan Stanley and Co. served as financial advisors to Brickman and Latham & Watkins LLP and Dechert served as legal advisors. Credit Suisse Securities (USA) LLC served as financial advisor to KKR and Simpson Thacher & Bartlett served as legal advisor.