About Concrete Pumping Holdings

Concrete Pumping Holdings, Inc. provides concrete pumping services and concrete waste management services in the United States (the U.S.) and the United Kingdom (the U.K.). The company is primarily operating under national concrete pumping brands in both geographies – Brundage-Bone Concrete Pumping, Inc. (Brundage-Bone) for concrete pumping in the U.S.; Camfaud Group Limited (Camfaud) in the U.K.; and Eco-Pan, Inc. (Eco-Pan) for waste management services in both the U.S. and the U.K. As of October 31, 2023, the company operated a fleet of approximately 1,580 units of equipment and approximately 150 locations globally. The company is especially equipped to support large and technically complex construction projects. In addition, the company has actively focused its business on commercial and infrastructure construction projects, while continuing to pursue profitable residential opportunities. The company’s fleet is capable of handling multiple large projects concurrently and can be deployed on short-notice across the U.S. and the U.K., thereby allowing it to efficiently allocate resources depending on market conditions to more profitable markets. The company’s complementary Eco-Pan business provides concrete washout services to customers. It plans to continue establishing additional Eco-Pan locations across the U.S. and the U.K., and further penetrate its existing concrete pumping customer base by cross-selling its Eco-Pan services. In the U.S. and the U.K. markets, the company serves a large and diverse customer base. Segments The company operates through three segments: U.S. Concrete Pumping, U.S. Concrete Waste Management Services, and U.K. Operations. U.S. Concrete Pumping This segment provides services primarily under the company’s Brundage-Bone and Capital Pumping brands, which as of October 31, 2023, operated a total fleet of approximately 1,060 equipment units from a diversified footprint of approximately 100 locations across 21 states. The company provides operated concrete pumping services, for which customers are billed on a negotiated time and volume basis based on the duration of the job and yards of concrete pumped. Additional charges (such as a fuel surcharge and travel costs) are frequently added based on specific project requirements. Typically, it sends a single operator with each concrete pump. U.S. Concrete Waste Management Services This segment operates under the company’s Eco-Pan brand, with approximately 115 trucks and over 10,000 custom metal pans or containers for construction sites from 19 locations in the U.S. as of October 31, 2023, the company is a provider of concrete waste management services in the U.S, providing a full-service, route-based, cost-effective, regulation-compliant solution to manage environmental issues caused by concrete washout. The company charges a fixed fee that includes the round-trip delivery and pickup of watertight pans / containers, environmental disposal of concrete washout, and a specified number of days the pans / containers can be used for. This provides a turnkey solution to the customer compared to the alternatives of bagging the waste concrete, pouring it into an on-site lined pit, or disposing of it into trash dumpsters and arranging for a pick-up. To the extent that the pans or containers are held at the job site for an extended number of days or irregular waste is found in the pan, it charges incremental fees. The company’s trucks are designed to allow for the pick-up and re-delivery of multiple pans, leading to significant incremental efficiencies as route densities increase. U.K. Operations This segment includes concrete pumping and concrete waste management services. The company’s concrete pumping services are primarily provided through either its Camfaud brand (operated pumping services) or its Premier Concrete Pumping brand (rental of pumping equipment without an operator). Mobile equipment is charged to customers under a minimum hire rate, which is typically five to eight hours. The company’s concrete pumping business in the U.K. includes a fleet of approximately 400 equipment units that are serviced from approximately 30 locations as of October 31, 2023. In addition, the results of the company’s concrete waste management operations under its Eco-Pan brand name in the U.K. are included in this segment. The company’s Eco-Pan business in the U.K. is operated from a shared Camfaud location as of October 31, 2023. The company bills its customers for its Eco-Pan services in the same manner as its U.S. Eco-Pan services. Equipment The company’s fleet is operated by experienced employees, each of whom is required to complete rigorous training and safety programs. In addition, the company has approximately 160 skilled mechanics who perform in-house equipment servicing. As of October 31, 2023, the company owned 100% of its fleet consisting of approximately 930 boom pumps, ranging in size from 16 to 66 meters, 90 placing booms, 20 telebelts, 300 stationary pumps, and 115 waste management trucks. As of October 31, 2023, the average age of the company’s fleet was approximately 9 years old and most of its equipment had useful lives of 20 to 25 years. Customers The company serves a base of approximately 12,000 customers (often with several projects per customer) across the U.S. and the U.K. The company’s customer composition is largely dependent on geographic location and general economic and construction market trends within individual operating markets. It actively monitors regional trends and targets customers in fast-growing markets through its extensive geographic footprint and knowledge of the local construction markets in each region in which it operates. The company’s customer base consists of general contractors or concrete contractors that span across the commercial, infrastructure, and residential end markets. The company also sells replacement parts to regional operators that lack the capital and scale to independently maintain a sufficiently stocked replacement parts inventory. The company’s contractual arrangements with customers are typically on a project-to-project purchase order basis. Suppliers The company primarily purchases pumping equipment, replacement parts, and fuel for its day-to-day operations. Concrete pumping equipment is primarily sourced from three suppliers – Schwing, Putzmeister, and Alliance. History Concrete Pumping Holdings, Inc. was founded in 1983.