BrightView Holdings, Inc. (NYSE:BV) is looking for acquisitions. As part of its strategic initiatives, BrightView has received an investment from One Rock in the form of $500 million newly-issued shares of convertible preferred stock. BrightView will use 90% of the proceeds from the investment to pay down debt, helping to significantly de-lever the Company's balance sheet to 3.1x net debt to LTM Adjusted EBITDA and position it for transformative growth under Asplund's new leadership.

Remaining funds from the new investment, coupled with increased free cash flow due to lower interest expense, are expected to provide BrightView with the flexibility to pursue acquisitions of complementary landscape businesses and other accretive initiatives.