Vermont Business Magazine Casella Waste Systems, Inc(NASDAQ: CWST), a regional vertically integrated solid waste, recycling and resource management services company, announced Thursday after markets closed that it has acquired the assets of Boon & Sons, Incand of Oceanside Rubbish, Inc. 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, Maine 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.
Source:RUTLAND, Vt., Nov. 01, 2018 (GLOBE NEWSWIRE) --www.casella.com.