Filing Flows › BrightView Holdings (BV) › Takeover & LBO
Is BrightView Holdings (BV) a takeover target?
A leveraged buyout at today's price plus 30% ($15.30 a share) would return a loss of about 15% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $4.95 a share (−58% against today's $11.77).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $15.30 | today's $11.77 plus 30% |
| × shares | 93.1 million | |
| = Equity value | $1.4B | |
| + Debt refinanced | $883M | |
| − Cash | $14.4M | |
| = Enterprise value | $2.3B | 7.7× EBITDA of $298M |
| Fees | $45.9M | 2% of the price |
| New debt | $1.5B | 5.0× EBITDA at 7.65% a year; the limit that binds: 65% of the price |
| Buyer's own money | $848M | 36% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $2.8B | $302M | $114M | −$56.2M | $1.5B |
| Year 2 | $2.8B | $308M | $118M | −$60.5M | $1.6B |
| Year 3 | $2.9B | $315M | $123M | −$64.9M | $1.7B |
| Year 4 | $3.0B | $323M | $128M | −$69.5M | $1.7B |
| Year 5 | $3.1B | $333M | $133M | −$74.1M | $1.8B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 6.6× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $2.2B | |
| − Debt left | $1.8B | |
| = Buyer's equity | $377M | |
| Money multiple | 0.44× | on $848M put in |
| Buyer's yearly return (IRR) | −15.0% |
Price against return
What the buyer makes at other premiums over today's $11.77; the IRR reaches 20% at $4.95 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $12.95 | −5.3% |
| 20% | $14.12 | −9.9% |
| 30% | $15.30 | −15.0% |
| 40% | $16.48 | −21.0% |
| 50% | $17.66 | −28.7% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $2.7B | |
| EBITDA, last 12 months | $298M | 10.9% of revenue |
| Depreciation and amortization | $202M | |
| Capital spending | $237M | |
| Debt | $883M | |
| Cash | $14.4M | |
| Share price | $11.77 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 1.5% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 30% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, BrightView Holdings would cost about $15.60 a share, $1.5B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $14.12 | $1.3B |
| Median | 32.5% | $15.60 | $1.5B |
| High end (a quarter paid more) | 51.8% | $17.87 | $1.7B |
BrightView Holdings' latest quarter
BrightView Holdings, Q3 FY26: revenue $718M (+1% year over year), operating margin 4.5%, net earnings $6.1M, operating cash flow $46.0M. The chart follows the revenue to costs, profit and cash.
Questions
Is BrightView Holdings being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy BrightView Holdings?
A leveraged buyout at today's price plus 30% ($15.30 a share) would return a loss of about 15% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $4.95 a share (−58% against today's $11.77).
What would a takeover of BrightView Holdings cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, BrightView Holdings would cost about $15.60 a share, $1.5B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.