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News Aug 20, 2014

Shearman & Sterling Advises Jefferies in Brundage-Bone Concrete Pumping’s $140 Million Senior Secured Notes Offering

Shearman & Sterling advised the initial purchaser, Jefferies LLC, as sole book running manager, in connection with the private placement by Brundage-Bone Concrete Pumping, Inc. (“Brundage-Bone”) of $140 million aggregate principal amount of its 10.375% Senior Secured Notes due 2021. The net proceeds from the notes offering will be used to finance a portion of the consideration for the acquisition of Brundage-Bone by Concrete Pumping Intermediate Holdings, LLC, an indirect wholly owned subsidiary of PGP Investors, LLC, the sponsor, including the repayment of all existing indebtedness of Brundage-Bone.

Brundage-Bone is a leading provider of concrete pumping services in the United States, with an operational presence across 16 states in the western, mountain and south central regions for customers focused on commercial, infrastructure and residential construction projects.

The following Shearman & Sterling lawyers advised the initial purchaser in this transaction: partners Michael Benjamin (New York-Capital Markets), Jason White (New York-Finance), and Douglas McFadyen (New York-Tax); counsel Sharon Lippett (New York-Compensation, Governance & ERISA) and Jason Pratt (New York-Environmental); and associates Lesley Janzen (New York-Capital Markets), Merritt Johnson (New York-Capital Markets), Corey Reis (New York-Finance), Laura Mulry (New York-Environmental), Ryan Roberts (New York-Tax), Gary Tashjian (New York-Compensation, Governance & ERISA), Reed Schuster (New York-Capital Markets), Adaeze Udoji (New York-Corporate) and Monica Li (New York-Corporate).