Casella Waste Systems Completes Acquisition of Select Assets From Republic Services
04 September 2019 - 6:10AM
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically
integrated solid waste, recycling and resource management services
company, announced today that it has completed the acquisition of
solid waste hauling and transfer assets in Albany, NY and Cheshire,
MA from select subsidiaries of Republic Services, Inc.
The acquired assets are expected to generate approximately $30
million of annualized revenues.
“This acquisition is an exciting opportunity for us to extend
our operations into two adjacent market areas, and will provide a
great opportunity to drive further growth, operational synergies
and landfill internalization,” said John W. Casella, Chairman and
CEO of Casella Waste Systems, Inc. “We are pleased to welcome
Republic’s hardworking and dedicated employees to our team, and we
are committed to maintaining the same excellent service standards
for our new customers in these markets.”
“With the acquisition of these assets, we have acquired roughly
$50 million of annualized revenues during 2019, which puts us ahead
of our goal of $20 million to $40 million per year of acquisition
or development activity,” Casella said. “Further, our active
pipeline of potential acquisition targets remains robust in late
2019.”
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, including, but
not limited to, the statements regarding the expected timing for
completing the proposed acquisition of the collection and transfer
assets, are "forward-looking statements". These forward-looking
statements can generally be identified as such by the context of
the statements, including 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 conditions to closing of the proposed
acquisition may not be satisfied on the expected timing or at all;
the expected financial benefits from the Company’s acquisitions may
not be achieved in a timely manner or at all; and competitive or
economic factors outside of the Company’s control may impact
revenue and costs.
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,
2018, 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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