Sep 19,2018

B. Riley FBR Acts as Sole Placement Agent in $96.9 Million Capital Raise for Industrea Acquisition Corp. in its Acquisition of Concrete Pumping Holdings, Inc.

LOS ANGELES, Sept. 19, 2018 (GLOBE NEWSWIRE) -- B. Riley FBR, Inc., a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc., served as sole placement agent in the $96.9 million capital raise for Industrea Acquisition Corp. (“Industrea”), a special purpose acquisition company focused on the industrial sector, in its acquisition of Concrete Pumping Holdings, Inc. (“CPH”).

Industrea entered into a definitive agreement to acquire CPH, a leading concrete pumping services and concrete environmental waste management solutions provider, from majority shareholder Peninsula Pacific, select members of CPH management and former manager shareholders. Industrea secured the required financing to complete the proposed business combination, including a $71.9 million private investment in public equity (PIPE) investment from Argand Partners and another institutional investor, as well as a $25 million zero-dividend convertible perpetual preferred stock investment from Nuveen (a TIAA company), and a new $350 million debt facility.

B. Riley FBR, Inc. served as sole placement agent in the PIPE investment and as an advisor to Industrea on the transaction. Previously, B. Riley FBR acted as the sole underwriter in Industrea’s $230 million initial public offering in August 2017.

Ellenoff Grossman & Schole LLP acted as legal counsel to B. Riley FBR.

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About B. Riley FBR, Inc.
B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements and merger and acquisitions advisory services, and corporate restructuring. The firm is nationally recognized for its highly ranked proprietary equity research.

About B. Riley Financial, Inc. (NASDAQ:RILY)
B. Riley Financial provides collaborative financial services and solutions tailored to fit the capital raising and financial advisory needs of public and private companies and high net worth individuals. The company operates through several wholly-owned subsidiaries, including B. Riley FBR, a full-service investment bank and institutional brokerage; Great American Group, a leading provider of asset disposition, appraisal, corporate advisory and valuation services; GlassRatner, a specialty financial advisory services and consulting firm; B. Riley Wealth ManagementB. Riley Asset Management and B. Riley Alternatives, which offer investment management to institutional and high net worth investors; Great American Capital Partners, which originates and underwrites senior secured loans for asset-rich companies; and B. Riley Principal Investments, which invests in or acquires companies and assets with attractive return profiles.

Media Contact:

Jo Anne McCusker
Media Relations
(646) 885-5425


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Source: B. Riley FBR, Inc.