Sources: Concrete Pumping Holdings Inc., Denver
Concrete Pumping Holdings (CPH) has closed on Pioneer Concrete Pumping Service Inc., based in Atlanta with additional Dallas and San Antonio, Texas locations. The $20 million transaction includes 83 operating equipment units and, the suitor notes, “an exceptional team of employees [and] experienced, highly skilled operators.” The increased capacity is expected to provide Pioneer customers, plus those of CPH’s Brundage Bone flagship business, increased service offerings and expanded fleet availability. Pioneer accounts will likewise have access to CPH Eco-Pan concrete waste removal services.
“We continue to execute initiatives to enhance our geographic footprint and responsibly grow our business,” says CPH CEO Bruce Young. “Pioneer is another example of our acquisition strategy at a valuation that is consistent with proven criteria. [It] is a well-run and highly respected business that holds an established position in attractive regional markets. We believe our company is well positioned to capitalize on long term demand drivers in the Georgia and Texas regions and across all end markets.”