Concrete Pumping Acquires This Concrete Pumping Service Provider In The Carolinas

Concrete Pumping Holdings Inc BBCP has acquired Coastal Carolina Pumping, Inc. in an all-cash acquisition. The transaction includes 89 units of operating equipment.
Headquartered in Charlotte, North Carolina, Coastal is a concrete pumping service provider in the Carolinas, with additional operations in Central Florida.
BBCP's CFO, Iain Humphries, commented: "With 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."
The company funded the deal with existing debt facilities and operational free cash flow.
Concrete Pumping held cash and equivalents of $2.67 million as of Q2-end. It generated $21.4 million in operating cash flow during the six months ended April 30, 2022. Total available liquidity at quarter end was $96.4 million.
Price Action: BBCP shares are trading higher by 0.87% at $6.97 on the last check Tuesday.