Vermont Business Magazine Casella Waste Systems, Inc (NASDAQ: CWST), a regional vertically integrated solid waste, recycling and resource management services company based in Rutland, announced today that it has acquired three solid waste businesses with hauling, transfer and recycling operations in Maine, Massachusetts, and Vermont. All transactions closed in May 2019. Terms of the deals were not disclosed. Casella shares are down about 25 cents (0.81%) early Thursday. They're trading near the top of their 52-week range at $39.36 ($23.50 - $40.01). The broad markets are also down slightly in early trading today.
The company acquired the assets of D & E Rubbish Removal, Inc., the assets of Bin Dump’n Trash, and the stock of Shaftsbury-based TAM, Inc and its wholly owned and related subsidiaries. In total, Casella expects to generate approximately $11.5 million of annualized revenues from these acquisitions.
“We are excited about these acquisitions, as the operations will integrate well with our existing assets and over time will allow us to build further route density, drive operational efficiencies, and internalize additional waste,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “We look forward to continuing to provide excellent service to their customers and we welcome their hardworking employees to our team.”
“We continue to make great progress with our acquisition efforts in 2019, and with these acquisitions we have acquired roughly $18.5 million of annualized revenues year-to-date,” Casella said. “Our acquisition pipeline remains robust with over $30.0 million of annual revenues under letter of intent that we expect to close by the end of the third quarter, and we continue to be focused on efforts to drive cash flow growth across our footprint through disciplined strategic growth.”
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.
Source: RUTLAND, Vt., June 06, 2019 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc www.casella.com.