KKR Agrees to Buy Landscaper Brickman for $1.6 Billion
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 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.