To Be Acquired by Industrea Acquisition Corp.

Technology & Services
To Be Acquired by Industrea Acquisition Corp.


Baird served as exclusive financial advisor to Concrete Pumping Holdings, Inc. on this transaction


Concrete Pumping Holdings, Inc. (“CPH” or the “Company”), a portfolio company of Peninsula Pacific, has agreed to be acquired by Industrea Acquisition Corp. ("Industrea") (Nasdaq: INDUU, INDU, INDUW), a special purpose acquisition company sponsored by Argand Partners (“Argand”). The proposed transaction will introduce CPH as a publicly traded company with an anticipated initial enterprise value of approximately $696 million and is expected to close in in the fourth quarter of 2018, subject to regulatory and investor approvals.

CPH is the leading provider of concrete pumping services and concrete environmental waste management solutions in the United States and the United Kingdom. CPH has the industry’s most comprehensive fleet and skilled operators to provide highly-specialized, quality concrete pumping service and is especially suited to support large and complex construction projects. The Company operates under the only established national brands, providing concrete pumping services from 80 locations in the United States under the Brundage-Bone brand and from 28 locations in the United Kingdom under the Camfaud brand. In addition to concrete pumping services, CPH also provides a complementary, full-service, cost-effective, and regulatory-compliant solution to manage environmental issues caused by concrete wastewater (“washout”) under the Eco-Pan brand. Eco-Pan’s route-based solution operates from 13 locations in the United States, provides watertight pans used to collect concrete washout, and ensures fully-compliant disposal and recycling of the waste. CPH is well-diversified across the commercial, infrastructure and residential end-markets, and serves a growing base of more than 8,000 customers with minimal customer concentration. CPH is headquartered in Denver, Colorado.

Peninsula Pacific specializes in providing customized capital solutions for both established and developing businesses in the consumer and industrial sectors. Peninsula Pacific seeks to capitalize, restructure and ultimately build meaningful businesses in partnership with strong management teams. Peninsula Pacific is based in Los Angeles, California.

Industrea is a special purpose acquisition company, formed by an affiliate of Argand, for the purpose of entering into a merger, stock purchase, or similar business combination with one or more businesses in the industrial sector. Industrea completed its initial public offering in July 2017, raising approximately $230 million in cash proceeds.

Argand is a middle market buyout firm founded in 2015 by Heather Faust, Howard D. Morgan, and Tariq Osman. Argand is a growth-oriented, control investor focused on complex, often contrarian, situations that involve solid, market-leading industrial and industrial-oriented consumer businesses, often with significant global operations and expansion opportunities. Argand is headquartered in New York, New York, and also has a presence in San Francisco, California.
Technology & Services
To Be Acquired by Industrea Acquisition Corp.
September 2018
Concrete Pumping Holdings, Inc.
Technology & Services
Target Location
North America
Acquiror Location
North America