• United Rentals for concrete pumping.
• UPS for concrete delivery on construction sites.

• Concrete Pumping Services: Provides specialized equipment and skilled operators to efficiently deliver and place liquid concrete from mixer trucks to various construction sites.
• Concrete Washout & Waste Management Services: Offers eco-friendly solutions for the containment, disposal, and recycling of concrete washout water and solids generated on construction projects.

Concrete Pumping Holdings, Inc. (BBCP) primarily sells its concrete pumping and waste management services to other companies in the construction industry (Business-to-Business model). According to their annual financial filings (10-K reports), no single customer represented more than 10% of their consolidated revenues for recent fiscal years. Therefore, Concrete Pumping does not have major individual customer companies that are publicly disclosed or represent a significant portion of their business.

Instead of relying on a few major clients, Concrete Pumping serves a broad and diversified base of customers within the construction sector. These customer categories, which utilize BBCP's services, include:

• General Contractors: These are the prime contractors responsible for the overall coordination, planning, and execution of construction projects. They frequently subcontract specialized services like concrete pumping to companies like BBCP.
• Concrete Contractors/Subcontractors: Firms that specialize in the concrete pouring and finishing aspects of construction projects. They often require concrete pumping services for efficient and precise placement of concrete on site.
• Residential and Commercial Builders/Developers: Companies involved in developing and constructing various types of buildings, including multi-family residential complexes, large single-family housing developments, office buildings, retail centers, and industrial facilities. These projects often have significant concrete needs.

These customer companies are primarily private entities, and specific names are not disclosed by BBCP due to the fragmented nature of their customer base across numerous construction projects.

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Bruce Young, Chief Executive Officer

Bruce Young has been a member of Concrete Pumping Holdings' Board of Directors since December 2018 and was appointed Chief Executive Officer of the company in 2008. He joined Brundage-Bone in 1985 and managed its concrete pumping operations from 2001 to 2008. Mr. Young also founded Eco-Pan in 1999 and has served as its Chief Executive Officer since its inception. He began his career in the concrete pumping industry in 1980 with O'Brien Concrete Pumping before starting his own company. Brundage-Bone was sold to the private equity firm Peninsula Pacific Strategic Partners in 2014, with Eco-Pan being integrated into the acquisition. The combined business was then successfully marketed and became a public company in December 2018 through a SPAC sponsored by Argand.

Iain Humphries, Chief Financial Officer, Secretary and Director

Iain Humphries has served as the Chief Financial Officer and Secretary of Concrete Pumping Holdings since November 2016, also becoming a member of the Board of Directors in December 2018. Before joining CPH, Mr. Humphries was the Chief Financial Officer of Wood Group PSN Americas from 2013 to 2016, after having joined Wood Group PLC in 2005. He possesses over fifteen years of finance leadership experience in the United States and nearly 25 years of international financial and management experience across the construction, oil & gas, power generation, and public accounting sectors. Mr. Humphries is a Chartered Accountant of the Institute of Chartered Accountants of Scotland (ICAS).

Mark Young, President – U.S. Concrete Pumping

Mark Young has been the General Manager of Brundage-Bone since 2018. He has held various leadership positions within the Brundage-Bone business, including roles at branch locations and in corporate functions. Mr. Young brings over 15 years of experience in the construction industry.

David Anthony "Tony" Faud, Managing Director of CPH U.K. Operations

Mr. Faud has served as the Managing Director of Concrete Pumping Holdings' U.K. operations since 2002. He joined Camfaud in 1982 and has over 30 years of industry experience, playing a crucial role in the company's growth and success. Mr. Faud is also one of only eight registered Construction Plant Competence Scheme instructors in the U.K.

Tom O'Malley, Senior Vice President of Sales and Marketing

Tom O'Malley joined Concrete Pumping Holdings as Senior Vice President of Sales and Marketing in 2021. His construction career began in 1985 with Rotec Industries. In 1997, Mr. O'Malley moved to Schwing America, where he held several key positions, including Senior Vice President of Sales & Marketing and a Board Member from 2016 through August 2021. He has been an active member of the American Concrete Pumping Association (ACPA) for more than two decades, serving on its board for six years.

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The addressable markets for Concrete Pumping Holdings Inc. (BBCP)'s main products and services are as follows:

Concrete Pumping Services

• The global concrete pump market size was valued at USD 5.18 billion in 2023 and is projected to reach USD 8.06 billion by 2032.
• In North America, the concrete pump market was estimated at USD 1.48 billion in 2024 and is anticipated to reach USD 2.49 billion by 2035.

Concrete Waste Management Services

• The global construction and demolition waste management market, which includes concrete waste management, was valued at USD 118.69 billion in 2024. It is projected to grow from USD 123.61 billion in 2025 to USD 183.67 billion by 2032.
• Specifically, the concrete waste management segment within the broader construction waste management market is projected to grow from USD 6.0 billion in 2023 to USD 9.5 billion by 2032 globally.
• In the United States, the construction waste market size exceeded USD 44.1 billion in 2024. The North America Construction and Demolition (C&D) Waste Management Market was estimated at USD 162.02 billion in 2023 and is expected to reach USD 261.20 billion by 2032.

Here are 3-5 expected drivers of future revenue growth for Concrete Pumping Holdings (BBCP) over the next 2-3 years:

1. Expansion of Eco-Pan Services: The U.S. Concrete Waste Management Services segment, operating under the Eco-Pan brand, is consistently highlighted as a significant organic growth driver. This segment has demonstrated increased volumes and improved pricing, with a substantial untapped market opportunity in the U.S. estimated at over $850 million.
2. Increased Investment in Infrastructure Projects: Concrete Pumping Holdings is positioned to benefit from ongoing infrastructure projects in both the U.S. and the U.K. These publicly funded initiatives, including roads, bridges, and utilities, are expected to be a continuous source of market share gains and provide a strong underlying demand for their services.
3. Strategic Acquisitions and Market Consolidation: A key part of BBCP's strategy involves the acquisition of smaller companies in fragmented concrete pumping markets. This "roll-up" opportunity allows the company to increase its scale, enhance efficiencies, and expand its geographical presence, contributing to overall revenue growth.
4. Recovery in Commercial and Residential Construction Markets: While the company has faced headwinds from softness in commercial construction and residential demand due to factors like high interest rates, a projected recovery in these markets is expected to drive future revenue. Management anticipates pricing pressure in these segments to ease, suggesting a potential rebound in activity.

Share Repurchases

• The board approved an additional $15 million for its share repurchase program in June 2025, increasing the total authorized amount since June 2022 to $50 million, with authorizations expiring on December 31, 2026.
• In Q1 2025, Concrete Pumping repurchased approximately 296,000 shares for $1.9 million at an average price of $6.53 per share.
• By Q3 2025, the company had repurchased approximately 593,000 shares for $3.8 million during that quarter, contributing to a total of over 4.6 million shares bought back since the program's inception.

Share Issuance

• Concrete Pumping Holdings had 52,132,683 shares issued and outstanding as of April 30, 2025, and 53,273,644 as of October 31, 2024, indicating a reduction in shares outstanding over this period.
• The expiration of the company's public warrants in December 2023 contributed to a "cleaner, simpler capital structure."

Outbound Investments

• Concrete Pumping Holdings has completed three acquisitions, with the most recent being CCP, a line pump manufacturer in Charlotte, acquired in August 2022.
• Other acquisitions include Hi Tech Concrete Pumping in September 2021.
• The company maintains a focus on strategic mergers and acquisitions (M&A) as part of its capital allocation strategy.

Capital Expenditures

• The company's capital allocation priorities include investments in its fleet and the growth of its Eco-Pan concrete waste management services.
• In fiscal year 2024, capital expenditures included approximately $5 million for growth investments in Q1, $1 million for M&A and $3 million for growth investments in Q2, and $4 million for growth investments in Q3.
• For fiscal year 2025, the company anticipates approximately $45 million in free cash flow, defined as Adjusted EBITDA less net replacement capital expenditures and cash paid for interest, indicating ongoing investment in maintaining and upgrading its assets.