KKR Reduces Stake in BrightView
Despite the divestiture, KKR retains a substantial indirect holding in the commercial landscaping leader.
June 11, 2025
KKR Offloads 11.6 Million Shares in BrightView, Trimming Ownership
Private equity giant KKR has sold 11.6 million shares of BrightView Holdings, Inc. , the largest U.S. commercial landscaping services company, in a secondary public offering. The transaction, executed on June 6, 2025, reflects a continued shift in KKR’s portfolio strategy, reducing its direct stake while preserving a significant presence in the company.
The shares were sold at a price of $14.40 each, yielding approximately $167 million in gross proceeds before deducting underwriting discounts. The sale was made through KKR BrightView Aggregator L.P. , one of several investment entities controlled by KKR and its affiliates. Following the sale, the entity still retains over 21.5 million shares in BrightView, held indirectly.
The ownership structure behind the shares is layered, typical of private equity investments:
- KKR BrightView Aggregator L.P. is managed by KKR BrightView Aggregator GP LLC.
- That entity’s sole member is KKR North America Fund XI L.P.
- Its general partner is KKR Associates North America XI L.P. , managed by KKR North America XI Limited.
- These ultimately connect to KKR Group Partnership L.P. and parent entities including KKR & Co. Inc.
All reporting parties have indicated they disclaim beneficial ownership except to the extent of their pecuniary interests. The filing notes that the disposition was conducted under Rule 10b5-1(c) , allowing for pre-arranged trading plans, and additional filings were made by other affiliated reporting persons due to SEC electronic filing limits.
This divestiture represents part of KKR’s gradual drawdown of its investment in BrightView, a company it took public in 2018. While the recent move reduces its exposure, the firm maintains a considerable indirect stake that preserves its influence over the company.
BrightView’s Market Position Remains Strong
BrightView continues to be a dominant player in the commercial landscaping market, offering services ranging from maintenance to snow removal across a national footprint. The reduction in KKR’s holdings may prompt questions from investors about the firm’s long-term intentions, but for now, it appears to be a strategic rebalancing rather than a full exit.
The transaction was disclosed in a Form 4 filed with the Securities and Exchange Commission on June 10, 2025, with the signatures of Christopher Lee representing the relevant KKR entities.
Share
Read More Articles
