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Concrete Pumping Holdings Announces Changes to Board of Directors

April 21, 2021

Concrete Pumping Holdings Announces Changes to Board of Directors

DENVER, April 21, 2021 (GLOBE NEWSWIRE) — Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (“CPH” or the “Company”), a leading provider of concrete pumping and waste management services in the U.S. and U.K., today announced the following changes to its board of directors (the “Board”).

Changes to the Board

Howard D. Morgan, who has served as director of CPH since 2018, was appointed chair of the Board, filling the vacancy left by David Brown who did not stand for reelection at the Company’s 2021 annual shareholder’s meeting. Morgan served as CEO and director of Industrea Acquisition Corp., the SPAC that took CPH public, from April 2017 until the consummation of the business combination in December 2018. Morgan currently serves as managing partner and co-founder of Argand Partners, LP (“Argand”), a middle-market private equity firm, and has been a member of Argand’s management committee and investment committee since September 2015. Prior to forming Argand, Morgan held roles at Castle Harlan, CHAMP Private Equity, The Ropart Group, and Allen & Company, Inc. He has experience serving on over one dozen boards. Current director Brian Hodges was appointed to vice chair of the Board, filling the vacancy left by Tariq Osman who did not stand for reelection at the Company’s 2021 annual shareholder’s meeting.

Matthew Homme, one of the Company’s directors, has decided to step down from the Board. As a result, the Board appointed Stephen Alarcon as a director and as a member of the Company’s corporate governance and nominating committee. He has a strong track record of merger and acquisitions success, currently serves as a vice president at Peninsula Pacific, a private investment fund focused on control investments in the gaming, consumer and industrial sectors, and has been a board observer of the Company since December 2018. Prior to joining Peninsula Pacific in 2013, Alarcon was a vice president at Aurora Resurgence where he focused on buyouts and special situations investments for middle-market companies. He has also held various positions at Highland Capital Management and Lehman Brothers. Alarcon earned a Bachelor of Business Administration, with high honors, from the McCombs School of Business at University of Texas at Austin.

At the 2021 annual shareholder’s meeting held on April 20, 2021, Tom Armstrong and Ryan Beres were also elected as directors of the board.

Tom Armstrong has more than 30 years of leadership experience in the industrial manufacturing and services industry. He was a founding board member of Industrea Acquisition Corp. Armstrong currently works at TKA Investments, LLC, a business advisory service he founded. Since 2016 he has served as a board member of Sigma Electric, Inc. Prior to those roles, he was president and COO of Engineered Products at Bradken, a U.S. subsidiary of Bradken Ltd. He has also held positions at AmeriCast Technologies’, Atchison Casting Corporation, and Texas Steel Company. Armstrong earned his bachelor’s degree in Industrial and Systems Engineering from Georgia Tech.

Ryan Beres is a vice president of Argand and a member of the board of directors for Brintons Carpets. He has been a member of the Argand team supporting Industrea prior to its acquisition of the Company and he has been a board observer of the Company since December 2018. Previously, he was an investment banking analyst at Goldman Sachs in New York, where he focused on mergers and acquisitions and capital market transactions across a variety of industries including power, energy, chemicals and metals & mining. Beres graduated cum laude from Hamilton College with a B.A. in Mandarin Chinese and a minor in Government.

Changes to the Board Committees

Howard D. Morgan was appointed as chair of the nominating and corporate governance committee. Stephen Alarcon and Heather Faust were each appointed as members of the nominating and corporate governance committee.

Tom Armstrong was appointed as a member of the audit committee and the compensation committee.

As a result of the foregoing changes, the composition of the Board committees is now as follows:

BOARD MEMBERS AUDIT COMPENSATION NOMINATING AND CORPORATE GOVERNANCE
Brian Hodges Chair
Bruce Young
David G. Hall Member
Heather Faust Member
Howard D. Morgan Member Chair
Iain Humphries
John M. Piecuch Chair
M. Brent Stevens
Ray Cheesman Member Member
Ryan Beres
Stephen Alarcon Member
Tom Armstrong Member Member

“As we continue to execute on our plan of growing market share and pursuing strategic M&A opportunities, I am honored to accept the role of chair of the Board,” commented Howard D. Morgan, Chair of Concrete Pumping Holdings. “Our new additions of Tom, Stephen and Ryan bring highly valuable skillsets, years of relevant industry experience and extensive knowledge of how to grow a business through acquisitions. We look forward to overseeing the great momentum CPH has in its business and driving shareholder value in the years to come.”

Bruce Young, president, CEO and director of Concrete Pumping Holdings commented, “We are pleased with today’s board appointments, as all three are well-aligned with our vision to drive market share through organic growth and strategic M&A. It has been a pleasure working with David, Tariq and Matthew—their service over the past few years and dedication to our company has been invaluable and I wish them all the best.”

About Concrete Pumping Holdings

Concrete Pumping Holdings 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 – 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’s 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 October 31, 2020, the Company provided concrete pumping services in the U.S. from a footprint of approximately 90 locations across 22 states, concrete pumping services in the U.K. from 30 locations, and route-based concrete waste management services from 16 locations in the U.S. and 1 shared location in the U.K. For more information, please visit www.concretepumpingholdings.com or the Company’s brand websites at www.brundagebone.comwww.camfaud.co.uk, or www.eco-pan.com.

Company Contact:

Iain Humphries
Chief Financial Officer
1-303-289-7497

Investor Relations:

Gateway Investor Relations
Cody Slach
1-949-574-3860
BBCP@gatewayir.com

 

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Source: Concrete Pumping Holdings, Inc.

Argand Partners Announces Team Promotions and New Hire

April 19, 2021

Argand Partners Announces Team Promotions and New Hire

Four investment team members promoted in 2021, reflecting the significant contribution of each individual to our firm and portfolio, and outstanding teamwork 

NEW YORK, April 19, 2021 – Argand Partners, LP (“Argand”), the New York- and San Francisco Bay Area-based industrials private equity firm, today announced four promotions and an addition to its investment team. 

The following four promotions became effective March 1, 2021: Charlie Burns to Principal, Ryan Beres to Vice President, and Brendan Fogarty and Riley McCabe to Senior Associate. The firm also announced the addition of Hanan Hassan as an Associate, joining the team after 5 years at KPMG where she provided due diligence and transaction support for M&A clients. 

Heather Faust, Managing Partner & Co-Founder at Argand, commented, “We are delighted to recognize the expertise and achievements of our team, and acknowledge the outsized role each individual has played supporting our portfolio companies and management teams through the COVID-19 related disruptions of the past year. Our team demonstrated the ability to successfully manage ambiguity, navigate complex and fast changing market dynamics, work seamlessly as a team, and lead and transact with confidence. We are extremely proud of the team we have built since establishing Argand Partners, and we are thrilled to keep adding exceptional talent.” 

Howard Morgan, Managing Partner & Co-Founder at Argand, stated, “These promotions recognize the group’s contribution to successfully investing and supporting the six platform deals and ten add-on investments in the Argand Fund I portfolio. Charlie and Ryan, who started working with our team ten and five years ago respectively, serve on the boards of Argand portfolio companies; each is an excellent investor and a thoughtful advisor that makes valuable contributions. Riley and Brendan have been with us for three years and have proven themselves to be key members of the Argand team. They are both highly active members of the Argand deal teams and have demonstrated solid investment acumen, good judgement, and excellent technical expertise. We acknowledge and appreciate the dedication of each individual and are delighted at the continuing development across Argand’s team.” 

About Argand Partners 

Argand Partners is a New York and San Francisco Bay Area-based middle-market private equity firm that targets market-leading industrial companies with under-resourced and unrealized global growth potential. Argand companies have strong market share, sustainable competitive advantages, defensive characteristics, and significant growth potential supported by secular demand trends. The firm focuses on specialty manufacturing and business services companies with a strong U.S. nexus (headquarters, primary growth market, or majority of revenue) and often significant global operations or expansion opportunities. 

Argand is a growth-oriented control investor that seeks complex, often contrarian, situations in order to buy well. The team employs a hands-on approach to partnering with management to create value across the investment lifecycle and help portfolio companies achieve their full potential as world-class, industry-leading companies. 

Further information on Argand can be found on the website:
www.argandequity.com 

For more information about Argand contact:
Heather Faust
Managing Partner & Co-Founder
Argand Partners
(212) 588-6470
hfaust@argandequity.com 

Argand Recognized in the Top PE Firms in the Middle Market™ Awards

March 5, 2021

Argand Recognized in the Top PE Firms in the Middle Market™ Awards


We are delighted that Argan Partners was named a 2021 Top 50 PE Firm in The Middle Market™ by Grady Campbell. The award is designed to acknowledge small and mid-sized leading private equity firms in the middle market.

See the full list here.

Argand’s Heather Faust Recognized in the M&A 2021 Top 25 Most Influential Women in Mid-Market M&A Awards

February 26, 2021

Argand’s Heather Faust Recognized in the M&A 2021 Top 25 Most Influential Women in Mid-Market M&A Awards


Our co-founder, Heather Faust, was recognized in the M&A 2021 Top 25 Most Influential Women in Mid-Market M&A awards with an honorable mention. Congratulations Heather!

See the full list here.

Argand’s Catherine Mandell Joins Winston & Strawn’s Counseling and Compliance Panel

February 8, 2021

Argand’s Catherine Mandell Joins Winston & Strawn’s Counseling and Compliance Panel

The webinar covered a variety of insights and lessons learned on the role of the GC in private equity, including:

  • Facilitating communications, difficult conversations, and informed decision-making across the PE firm
  • Supporting an evolving/expanding private equity business
  • Balancing different roles and competing priorities
  • Managing risk exposure in an increasingly complex regulatory landscape
  • How women can be uniquely suited for the role

Listen to the webinar here.

Concrete Pumping Holdings Announces Closing of Senior Secured Second Lien Notes Offering and Upsizing of Asset Based Lending Facility

January 28, 2021

Concrete Pumping Holdings Announces Closing of Senior Secured Second Lien Notes Offering and Upsizing of Asset Based Lending Facility

DENVER, Jan. 28, 2021 (GLOBE NEWSWIRE) — Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (the “Company” or “CPH”), a leading provider of concrete pumping and waste management services in the U.S. and U.K., announced that Brundage-Bone Concrete Pumping Holdings Inc. (the “Issuer”), a wholly-owned subsidiary of the Company, has successfully closed its private offering of $375.0 million in aggregate principal amount of senior secured second lien notes due 2026 (the “Notes”). The Notes were issued at par and bear interest at a fixed rate of 6.000% per annum. In addition, the Company has amended and restated its existing ABL credit agreement (the “ABL Facility”) to provide up to $125.0 million (previously $60.0 million) of commitments. The Issuer’s obligations under the Notes will be guaranteed by the Company, Concrete Pumping Intermediate Acquisition Corp. and each of the Issuer’s domestic, wholly-owned subsidiaries that is a borrower under or guarantees the ABL Facility.

The offering proceeds, along with approximately $15.0 million of borrowings under the ABL Facility, were used to repay all outstanding indebtedness under the Company’s existing term loan agreement, dated December 6, 2018, and pay related fees and expenses.

“This transaction has allowed us to improve our liquidity at favorable interest rates,” said Bruce Young, CEO of CPH. “By further strengthening our balance sheet and reducing our cost of debt, we have enhanced our ability to pursue accretive investment opportunities and support our overall long-term growth strategy. We are pleased with the continued support of our investors and remain committed to executing on our strategic priorities and maximizing shareholder value throughout fiscal year 2021.”

The Notes have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States or to any U.S. persons absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes were offered and sold only to “qualified institutional buyers” in the United States pursuant to Rule 144A of the Securities Act or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act.

About Concrete Pumping Holdings

Concrete Pumping Holdings 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 – 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’s 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 October 31, 2020, the Company provided concrete pumping services in the U.S. from a footprint of approximately 90 locations across 22 states, concrete pumping services in the U.K. from 30 locations, and route-based concrete waste management services from 16 locations in the U.S. and 1 shared location in the U.K. For more information, please visit www.concretepumpingholdings.com or the Company’s brand websites at www.brundagebone.com, www.camfaud.co.uk, or www.eco-pan.com.

Important Notice Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “likely,” “may,” “will,” “should,” “expect,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of such terms and other comparable terminology. Such forward-looking statements are based on management’s reasonable current assumptions, expectations, plans and forecasts regarding the Company’s and the Issuer’s current or future results and future business and economic conditions more generally. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievement of the Company or the Issuer to be materially different from any future results expressed or implied by such forward-looking statements, and there can be no assurance that actual results will not differ materially from management’s expectations. Therefore, you should not rely on any of these forward-looking statements as predictors of future events.

All forward-looking statements contained in this release are qualified in their entirety by this cautionary statement. Forward-looking statements speak only as of the date they are or were made, and the Company does not intend to update or otherwise revise the forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.

Contact:

Company:
Iain Humphries
Chief Financial Officer
1-303-289-7497

Investor Relations:
Gateway Investor Relations
Cody Slach
1-949-574-3860
BBCP@gatewayir.com

Wishing you and your families a happy and peaceful holiday season, from all of us at Argand Partners

December 23, 2020

Wishing you and your families a happy and peaceful holiday season, from all of us at Argand Partners

Wishing you and your families a happy and peaceful holiday season, from all of us at Argand Partners


Heather Faust, Howard Morgan, Tariq Osman, Joseph Del Toro, Joyce Schnoedl,
Catherine Mandell, Kay Blackwell, Patrick Gilrane,
Dino Sawaya, Charlie Burns, Ryan Beres, Brendan Fogarty, Riley McCabe, Prisha Parvani, Janel Maki, Inez Rhodes, Lauren Kennedy, Persina Lucas