海角社区

海角社区 Acquires Coastal Carolina Pumping, the Largest Concrete Pumping Service Provider in the Carolinas

听 鈥� Acquisition Expands Company's Presence in North Carolina, South Carolina and Florida Markets 鈥�
鈥� Strengthens Recent Greenfield Expansion in Washington D.C. 鈥�

DENVER, Aug. 23, 2022 (GLOBE NEWSWIRE) -- 海角社区. (Nasdaq: BBCP) (鈥淐PH鈥� or the 鈥淐ompany鈥�), a leading provider of concrete pumping services and concrete waste management services in the U.S. and U.K., today announced that it听completed the acquisition of Coastal Carolina Pumping, Inc. (鈥淐oastal鈥�).

Headquartered in Charlotte, North Carolina, Coastal is the largest concrete pumping service provider in the Carolinas with additional operations in Central Florida. Coastal has decades of experience providing high quality services with an exceptional team of employees and highly skilled operators. The all-cash acquisition, which includes 89 units of operating equipment, was funded from existing debt facilities and strong operational free cash flow.

Coastal is expected to enhance听CPH鈥檚 positioning and scale in the fragmented national concrete pumping industry, specifically within the North Carolina, South Carolina and Florida regions. The increased capacity is expected to provide Brundage-Bone and Coastal customers with advantages like increased service offerings and expanded fleet availability. Additionally, the acquisition offers a compelling opportunity for Coastal鈥檚 customer base to access CPH鈥檚 Eco-Pan concrete waste removal services.

CPH also plans to leverage the location of existing Coastal customers to strengthen its recent greenfield expansion strategy in Washington D.C.

鈥淲e continue to successfully execute on our strategic initiatives to enhance our geographic footprint and responsibly grow our business,鈥� said CPH鈥檚 CEO Bruce Young. 鈥淭he U.S. East Coast region is an attractive expansion market for CPH and we are excited to develop our existing presence in this region of the United States. Coastal Carolina is a well-run and highly respected business with exceptional talent that holds an established position in attractive regional markets. It also provides the ability to strengthen our recent expansion into the Washington D.C. market, an area that has experienced rapid growth and is expected to grow significantly over the next decade."

CPH's CFO, Iain Humphries, commented: 鈥淲ith this acquisition and additional greenfield expansion, we have strengthened our positions in the Carolinas and Florida regions and can now provide robust pumping services up to Baltimore. We are confident in our ability to realize the benefits of this transaction and deliver value creation following the same proven approach we have taken with our previous acquisitions.鈥�

海角社区 海角社区

海角社区 is the leading provider of concrete pumping services and concrete waste management services in the fragmented U.S. and U.K. markets, primarily operating under what we believe are the only established, national brands in both geographies 鈥� Brundage-Bone for concrete pumping in the U.S., Camfaud in the U.K., and Eco-Pan for waste management services in both the U.S. and U.K. The Company鈥檚 large fleet of specialized pumping equipment and trained operators position it to deliver concrete placement solutions that facilitate labor cost savings to customers, shorten concrete placement times, enhance worksite safety and improve construction quality. Highly complementary to its core concrete pumping service, Eco-Pan seeks to provide a full-service, cost-effective, regulatory-compliant solution to manage environmental issues caused by concrete washout. As of April 30, 2022, the Company provided concrete pumping services in the U.S. from a footprint of approximately 95 locations across 20 states, concrete pumping services in the U.K. from approximately 30 locations, and route-based concrete waste management services from 17 locations in the U.S. and 1 shared location in the U.K. For more information, please visit or the Company鈥檚 brand websites at , , or .

Forward-Looking Statements听

This press release includes 鈥渇orward-looking statements鈥� within the meaning of the 鈥渟afe harbor鈥� provisions of the Private Securities Litigation Reform Act of 1995. The Company鈥檚 actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥減roject,鈥� 鈥渂udget,鈥� 鈥渇orecast,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渂elieves,鈥� 鈥減redicts,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渙utlook鈥� and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company鈥檚 expectations with respect to the integration of Coastal and the expected benefits and future performance of Coastal. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company鈥檚 control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the adverse impact of recent inflationary pressures, global economic conditions and events related to these conditions, such as the ongoing war in Ukraine and the COVID-19 pandemic, on our business, including fluctuations in fuel costs; the outcome of any legal proceedings or demand letters that may be instituted against or sent to the Company or its subsidiaries; the ability of the Company to grow and manage growth profitably and retain its key employees; the ability to complete targeted acquisitions and to realize the expected benefits from completed acquisitions; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated from time to time in the Company鈥檚 filings with the Securities and Exchange Commission, including the risk factors in the Company's latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Company Contact:

Iain Humphries
Chief Financial Officer
1-303-289-7947

Investor Relations:

Gateway Group, Inc.
Cody Slach
1-949-574-3860

Released August 23, 2022