Casella Waste Systems Acquires Two Businesses – Boon & Sons and Oceanside Rubbish
November 01 2018 - 4:18PM
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 Boon
& Sons, Inc. (“Boon”) and of Oceanside Rubbish, Inc.
(“Oceanside”). Both transactions closed on November 1, 2018.
Boon is a provider of residential, commercial and roll-off
collection services in the Rochester, NY market. Oceanside is a
provider of residential, commercial and roll-off collection
services and operates a transfer station in the Southern, ME
marketplace. In total, the Company expects to generate
approximately $16 million of annualized revenues from the Boon and
Oceanside acquisitions.
“With the acquisition of Boon and Oceanside, we have acquired
roughly $70 million of annualized revenues during 2018, which puts
us ahead of our 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. “Further, our
active pipeline of potential acquisition targets remains robust
coming into 2019.”
“Boon and Oceanside are both leading operators in their
respective markets and provide excellent service to their customers
and the communities that they serve,” Casella said. “The Oceanside
acquisition will tuck-in well with our existing operations and
allow us to build further route density, drive operational
efficiencies, and internalize additional Maine waste into the
Juniper Ridge landfill.”
“We are very excited about the acquisition of Boon, as their
operations will integrate well with our operations in the Rochester
market,” Casella said. “The Rochester market is an important
strategic market for us, as it is a major population center that is
in close proximity to three of our Western New York landfills. The
Boon team is top-notch, and we are excited for their help and
leadership in driving the integration of our Rochester
operations.”
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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