Abacus Financial a private equity firm based in Los Angeles CA, announces the completed acquisition of STAR Concrete Pumping Company [Houston, Texas] creating a leading force in concrete pumping delivery services throughout the United States, Canada, and the northern part of South America.

With this acquisition, Abacus Financial has one of the concrete sector’s broadest portfolios of products, services and end-to-end solutions. The combined offerings are focused on helping clients accelerate growth, mitigate risks and lower costs.

The acquisition is the largest in the concrete sector for 2011. “This is a historic day for Abacus Financial & STAR Concrete Pumping Company, and for the clients we serve,” said the Chairman of Abacus Financial. “Independently, each company is a respected industry leader. Together, we are a continental leader, with the capability to serve our clients – whatever their size, location or industry – with one of the most comprehensive and competitive portfolios.”

STAR Concrete Pumping Company serves a wide variety of concrete professionals ranging from local concrete finishers, to regional and national ready-mix companies, to the largest national and international general contractors and construction managers. STAR Concrete Pumping Company will extend their national leadership role with the ability to provide complete lifecycle capabilities in the completion of refineries, chemical plants, bridges, highways, airports, smelters, power plants, high-rise structures, residential developments and a wide array of other projects throughout the United States, Canada, and the northern parts of South America.

“Today marks the beginning of an exciting new era,” said Jason Smith, Vice President and General Manager of STAR Pumping. “Our clients will benefit from the breadth and depth of our solutions, our newly installed technologies, and our commitment to unsurpassed quality and our ability to provide truly national concrete service delivery. With the resources of Abacus Financial, we have an opportunity to truly redefine the North American concrete services market.”

The Chairman of STAR Concrete Pumping Company stated “Each of these changes collectively will result in a leaner, more responsive and cost effective end product coupled with greater management oversight resulting in a superior state of the art concrete placement and delivery service with exacting predictability and a better end product for our customers and clients”.

Via EPR Network
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