Business
Casella Waste Systems, Inc. Completes Acquisition of Consolidated Waste Services, LLC Assets
RUTLAND, Vt., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management
About this update from Casella Waste Systems, Inc.
[{"type":"text","content":"RUTLAND, Vt., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, announced that it completed the acquisition of the collection, transfer, and recycling assets of Consolidated Waste Services, LLC and its affiliates (dba “Twin Bridges”) on September 1, 2023. The purchase price of the acquisition was approximately $219 million and was funded through proceeds from the Company’s equity offering completed on June 16, 2023. The acquisition includes two hauling operations, one transfer station, and one material recovery facility in the greater Albany, New York market, and is expected to generate total annualized revenues of approximately $70 million. “We believe that Twin Bridges fits well with our operations and provides a solid strategic platform to grow our services in this market. Twin Bridges was built on delivering quality service to its customers, and we are intently focused on continuing this commitment,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “We would like to welcome Twin Bridges’ hardworking team members to Casella, and we are excited to serve our new customers.” About Casella Waste Systems, Inc. Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services in the eastern United States. For further information, investors contact Jason Mead, Senior Vice President of Finance and Treasurer at (802) 772-2293; media contact Jeff Weld, Director of Communications at (802) 772-2234; 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 our intentions, beliefs or current expectations concerning, among other things, projections as to the anticipated benefits of this acquisition; and the anticipated impact of this acquisition on the Company’s business and future financial and operating results are \"forward-looking statements\". These forward-looking statements can generally be identified as such by the context of the statements, including wo...