Brundage-Bone Concrete Pumping, a provider of concrete-pumping services and a portfolio company of Peninsula Pacific Strategic Partners, has completed three add-on acquisitions that will expand the company’s presence in the southeastern United States.
Brundage-Bone, acquired by Peninsula Pacific in August 2014, provides concrete-pumping services to customers in the commercial, residential and infrastructure construction end-markets. Brundage-Bone was founded in 1983 and is headquartered in Denver (www.brundagebone.com).
The three add-ons are Acton Concrete Pumping (Greenville, SC); AJ Concrete Pumping (Charleston, SC); and Kenyon Concrete Pumping (Charleston, SC). Brundage-Bone currently operates from 65 locations in 17 states ranging from the Pacific Northwest through the Southeast. These three add-ons will extend the company’s operating footprint in the Southeast from its current Atlanta and Nashville locations. “The Southeast has become a highly attractive growth market given strong demographic trends and robust economic fundamentals in the region,” said Brundage-Bone CEO Bruce Young.
“We believe these acquisitions will provide Brundage-Bone with a strong operational presence across South Carolina, while also augmenting the company’s footprint in Tennessee, Alabama, and Georgia. We view these transactions as important milestones as we continue to expand the company’s operations in attractive markets across the Southeast,” said Matt Homme, a Managing Director at Peninsula Pacific.
Peninsula Pacific Strategic Partners makes control and non-control investments of equity or debt in middle-market businesses that have annual revenue of up to $750 million and enterprise value up to $500 million. The firm has a generalist approach and targets various industries, including those which have temporarily fallen out of favor. Sectors of particular interest include automotive, aerospace & defense, building products, business services, chemicals, consumer goods, distribution, energy & power, food & beverage, healthcare, industrial and manufacturing, metals & mining, paper & packaging, and transportation & logistics. The firm is based in Los Angeles (www.peninsulapacific.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-1-15
