ValleyCrest and Brickman Sign Merger Agreement
The ValleyCrest Companies and The Breickman Group, Ltd. have entered into a merger agreement. The companies expect to complete the merger in mid-2014.
Following the completion of the merger, Andrew Kerin, chief executive officer of The Brickman Group, will be CEO if the combined organization and remain based in Rockville, Maryland. Roger Zino, CEO of The ValleyCrest Companies will become vice chairman and will remain based in Calabassas, California.
The combined company will be majority-owned by KKR&Co. MSD Capital, the majority owner of The ValleyCrest, will retain a signmificant minority interest in the combined company.the majority owner.
According to reports, Richard Sperber, chairman of ValleyCrest will be leaving the company, but will remain a shareholder.
The combined revenues of the company will approach $2 billion.
For the full text of the joint press release and additional information, click here.