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.).
As of October 31, 2024, the company operated a fleet of approximately 1,550 units of equipment, with approximately 145 locations globally. The company provides concrete pumping services in the U.S. and the U.K., with the most comprehensive and reliable fleet and highly-skilled operators to provide quality service. The compan...
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.).
As of October 31, 2024, the company operated a fleet of approximately 1,550 units of equipment, with approximately 145 locations globally. The company provides concrete pumping services in the U.S. and the U.K., with the most comprehensive and reliable fleet and highly-skilled operators to provide quality service. 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. 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. The company 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 U.K. markets, the company serves a large and diverse customer base and as of October 31, 2024, the company’s top ten customers represented less than 10% of its total revenue and had an average tenure of more than 25 years.
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
U.S. concrete pumping services segment represented 68% of the company’s total revenue for the year ended October 31, 2024, and services from this segment are primarily provided under its Brundage-Bone and Capital Pumping brands, which as of October 31, 2024, operated a total fleet of approximately 1,020 equipment units from a diversified footprint of approximately 90 locations across 22 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. Typically, the company sends a single operator with each concrete pump.
U.S. Concrete Waste Management Services
U.S. concrete waste management services segment represented 17% of the company’s total revenue for the year ended October 31, 2024. Operating under the company’s Eco-Pan brand, with approximately 130 trucks and over 11,000 custom metal pans or containers for construction sites from 20 locations in the U.S. as of October 31, 2024, the company is a leading provider of concrete waste management services in the U.S, providing a full-service, route-based, 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. 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
U.K. operations segment represented 15% of the company’s total revenue for the year ended October 31, 2024, and consisted of 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. consists of a fleet of approximately 400 equipment units that are serviced from approximately 35 locations as of October 31, 2024. 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, 2024. The company bills its customers for its Eco-Pan services in the same manner as its U.S. Eco-Pan services.
Equipment
As of October 31, 2024, the company owned 100% of its fleet consisting of approximately 900 boom pumps, ranging in size from 20 to 66 meters, 90 placing booms, 20 telebelts, 300 stationary pumps, and 130 concrete waste management trucks.
Customers
The company serves a base of more than 16,000 customers (often with several projects per customer) across the U.S. and the U.K. and has an approximate 90% customer retention rate based on its top 500 customers and ~100% customer retention rate of its top 100 customers as of October 31, 2024. In addition, as of October 31, 2024, the company’s top ten customers represented less than 10% of its total revenue and had an average tenure of more than 25 years. The company actively monitors regional trends and target 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.
History
Concrete Pumping Holdings, Inc. was founded in 1983. The company was incorporated in 2018.