BV · CIK 0001734713
What BrightView Holdings, Inc. told the SEC could break it.
BrightView's disclosures track the operational inputs of running a landscaping-services fleet. It is exposed to fuel prices through the vehicles and mowers it uses to deliver services, and it sources key materials — fertilizer, chemicals, road salt, and mulch — from a limited number of suppliers, so a disruption could raise costs or delay sourcing. The pesticides it applies, made by third parties, must be registered with the EPA and state agencies and remain under ongoing exposure-risk review that could restrict their use. Separately, its balance sheet carries interest-rate and refinancing risk: $799.6 million of variable-rate debt at a 6.5% weighted-average rate as of September 30, 2025, plus $500 million of 7% PIK Series A preferred stock held by sponsor One Rock.
4 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Commodity & input dependence
- Fuel price exposure for vehicle fleet and mowersmedium
BrightView is exposed to fuel-price market risk through the consumption of fuel by its vehicle fleet and mowers in delivering landscaping services, purchasing fuel at prevailing market prices (partially hedged).
“We are exposed to market risk for changes in fuel prices through the consumption of fuel by our vehicle fleet and mowers in the delivery of services to our customers. We purchase our fuel at prevailing market prices.”
Liquidity & debt
- $799.6M variable-rate debt plus $500M Series A Preferred (One Rock)medium
BrightView carried $799.6M of variable-rate debt at a 6.5% weighted-average rate as of September 30, 2025, plus $500M of 7% PIK Series A Convertible Preferred Stock held by sponsor One Rock, exposing it to interest-rate and refinancing risk.
“As of September 30, 2025, we had variable rate debt outstanding of $799.6 million at a weighted average interest rate of 6.5% for the year ended September 30, 2025, excluding the impact of our outstanding hedge agreements.”
SEC filing →As of 2025
Regulatory & policy
- EPA/state pesticide registration and regulationmedium
Pesticides BrightView applies must be registered with the EPA and similar state agencies and are subject to ongoing EPA exposure-risk evaluation; regulatory action restricting these third-party-manufactured products could disrupt its landscaping operations.
“products containing pesticides generally must be registered with the U.S. Environmental Protection Agency, or EPA, and similar state agencies before they can be sold or applied. The pesticides we use are manufactured by independent third parties and are evaluated by the EPA as part of its ongoing exposure risk assessment and may be subject to similar evaluation by similar state agencies.”
SEC filing →As of 2025
Supplier concentration
- Limited number of suppliers for fertilizer, chemicals, road salt, mulchmedium
BrightView sources certain key materials — fertilizer, chemicals, road salt and mulch — from a limited number of suppliers; supplier disruptions or the loss of a significant supplier could increase supply costs or delay replacement sourcing.
“products such as fertilizer, chemicals, road salt and mulch, could result in a loss of revenues, reduced margins and damage to our relationships with customers. In addition, we source certain materials and products we use in our business from a limited number of suppliers.”
SEC filing →As of 2025
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