- Firm is working with an adviser to run auction process
- Pensinsula Pacific has had held stake in Brundage since 2014
The firm is working with an adviser to run an auction process for the company that could value Denver-based Brundage-Bone at about $1.1 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Brundage-Bone is attracting interest from other private equity firms, the people said.
Representatives for Peninsula Pacific and Brundage-Bone didn’t respond to requests for comment.
Brundage-Bone, founded in 1983 and led by President and Chief Executive Officer Bruce Young, provides concrete-pumping services from about 80 locations in 20 states across the U.S.