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
Released on: April 20, 2011, 4:55 pm
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”.
Immediate facility, equipment and personnel improvements were announced including:
* Re-Designed STARPumping.com to include blogs,
educational videos and equipment photos. The new website will act as a first strike
marketing tool bringing in new business while showcasing its vast job portfolio. A
new logo has also been unveiled as part of this acquisition.
* Immediate hiring of Jason D. Smith, Vice President and General Manager,
responsibilities include all aspects of the day to day operations of the company.
The high profile coveted leadership responsibilities include strategic planning,
corporate team building, logistics, and organizational accountability, while
focusing on company product and service pricing, growth, and profitability.
Mr. Smith’s distinguished background includes 22 years of dedicated operational
expertise culminating to District Managing Director for his former employer FedEx
Ground, Memphis Tennessee. Mr. Smith is a 1993 graduate of the University of
Tennessee, majoring in Business Administration, logistics and transportation. Mr.
Smith’s graduate studies include Executive Leadership Training in 2008 from Duquesne
University, Pittsburgh PA.
* Immediate hiring of William A. Avelar, Business Development & Customer Services
Director, responsibilities include employee accountability and productivity,
operating efficiency, budgeting, logistics, equipment utilization, and teamwork,
while focusing on core values of excellence and superior customer service.
Mr. Avelar’s distinguished background includes 25 years of dedicated construction
operational and concrete pumping expertise which includes branch management, sales
management, construction supervision, and concrete pumping. As a Rapor Institute
graduate, he obtained two years of construction management training at Northern
Arizona University. Mr. Avelar is also an operating engineer with a heavy equipment
* Facilities upgrade includes a new “cloud” state of the art GPS tracking, billing,
accounting, and payroll system that provides immediate accountability in real time.
This allows dispatch managers to oversee the actual delivery and job site activity.
The system provides a visual backup to be viewed later at any time in resolving
potential disputes and disagreements.
* Employee operator payroll is governed by the improved GPS system, eliminating the
dated “time clock” presently used by much of the industry.
* STAR Concrete Pumping Company has teamed with Verizon to allow their employee
communications to utilize the latest cell phone, laptop and tablet technology.
* STAR Concrete Pumping Company has teamed with Salesforce.com for each Business
Development Representative. This software, in real time, shall provide sales
* Equipment improvements include fuel saving reporting software for all trucks &
Contact Details: Abacus Financial
633 West 5th Street
Los Angeles, CA 90071
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