Brundage-Bone Concrete Pumping, a portfolio company of Peninsula Pacific, has acquired O’Brien Concrete Pumping, a Denver-based provider of concrete pumping services with 70 concrete pumps across Colorado and Arizona.
Brundage-Bone provides concrete-pumping services to US and UK-based customers in the commercial, residential and infrastructure construction end-markets. The company, founded in 1983 and led by its President and Chief Executive Officer Bruce Young, is headquartered in Denver (www.brundagebone.com).
Brundage-Bone has been very acquisitive since being acquired out of bankruptcy by Peninsula Pacific in August 2014. In November 2015, the company acquired Action Concrete Pumping (Greenville, SC); AJ Concrete Pumping (Charleston, SC); and Kenyon Concrete Pumping (Charleston, SC). A year later, in November 2016, Brundage-Bone expanded to the UK with the buys of Camfaud Concrete Pumps, Premier Concrete Pumping, and South Coast Concrete Pumping. In June 2017 it completed the acquisition of UK-based Reilly Concrete Pumping.
“O’Brien is another strategically significant addition to Brundage-Bone as part of the company’s disciplined growth strategy,” said Matt Homme, Managing Director of Peninsula Pacific. “We will continue to support Bruce Young and his team as they identify highly regarded concrete pumping businesses that can expand Brundage-Bone’s footprint and deepen its service offering.”
Today, Brundage-Bone is one of the largest providers of concrete pumping and material placement services in the US and the UK. The company has more than 750 employees and 80 locations in 20 states in the US and an additional 275 employees in the UK serving customers in England, Scotland and Wales.
“The acquisition of O’Brien strengthens Brundage-Bone’s presence in Colorado and Arizona, and is an excellent example of the company’s ability to be a unique platform for growth in the concrete pumping industry,” said Stephen Alarcon, Vice President of Peninsula Pacific.
Peninsula Pacific 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).
© 2018 Private Equity Professional | April 25, 2018
