Casella Waste Systems Acquires Two Businesses in New York – WeCare Waste & Recycling and Valley Sanitation
04 October 2018 - 6:30AM
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically
integrated solid waste, recycling and resource management services
company, announced today that it has acquired the assets of WeCare
Waste & Recycling, LLC (“WeCare”) and of Valley Sanitation
(“Valley”). Both transactions closed on October 1, 2018.
WeCare is a provider of residential, commercial and roll-off
collection services in the Geneva, NY and Ithaca, NY marketplaces.
Valley is a provider of residential and commercial collection
services in the Plattsburgh, NY marketplace. In total, the Company
expects to generate approximately $5 million of annualized revenues
from the WeCare and Valley acquisitions.
“As part of our 2021 strategic plan, we set a goal of $20
million to $40 million per year of acquisition or development
activity,” said John W. Casella, Chairman and CEO of Casella Waste
Systems, Inc. “Including the acquisition of WeCare and Valley, we
have acquired roughly $55 million of annualized revenues during
2018, which puts us ahead of our goal for the year and which we
expect will drive higher cash flows and growth in key markets.
Further, our active pipeline of potential acquisition targets
remains robust.”
“WeCare and Valley have both well-run businesses that will
tuck-in well with our existing operations and allow us to build
further route density and drive operational efficiencies in these
key markets,” Casella said. “We look forward to continuing to
provide excellent service to their customers and the communities
they serve.”
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont,
provides solid waste management services consisting of collection,
transfer, disposal, and recycling services in the northeastern
United States. For further information, investors should contact
Ned Coletta, chief financial officer at (802) 772-2239, and media
should contact Joseph Fusco, vice president at (802) 772-2247, or
visit the company’s website at http://www.casella.com.
Safe Harbor Statement
Certain matters discussed in this press release are
"forward-looking statements". These forward-looking statements can
generally be identified as such by the context of the statements,
including words such as “believe,” “expect,” “anticipate,” “plan,”
“may,” “would,” “intend,” “estimate,” "will," “guidance” and other
similar expressions, whether in the negative or affirmative. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry and markets
in which the Company operates and management’s beliefs and
assumptions. The Company cannot guarantee that it actually will
achieve the plans, intentions, expectations or guidance disclosed
in the forward-looking statements made. Such forward-looking
statements, and all phases of the Company’s operations, involve a
number of risks and uncertainties, any one or more of which could
cause actual results to differ materially from those described in
its forward-looking statements. Such risks and uncertainties
include or relate to, among other things: the Company may not fully
recognize the expected financial benefits from the acquisitions due
to an inability to recognize operational cost savings, general and
administration cost savings, market factors, landfill
internalization benefits, or due to competitive or economic factors
outside our control which may impact revenue and costs, or for
other reasons, and we may be unable to achieve our acquisition
goals as part of the 2021 strategic plan due to competition for
attractive targets or an inability to reach agreement with
potential targets on pricing or other terms. There are a number of
other important risks and uncertainties that could cause the
Company’s actual results to differ materially from those indicated
by such forward-looking statements. These additional risks and
uncertainties include, without limitation, those detailed in
Item 1A, “Risk Factors” in the Company's Form 10-K for the
fiscal year ended December 31, 2017, and in other filings that
the Company may make with the Securities and Exchange Commission in
the future.
The Company undertakes no obligation to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Investors:Ned ColettaChief Financial Officer(802) 772-2239
Media:Joseph FuscoVice President (802) 772-2247
http://www.casella.com
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