Casella Waste Systems Acquires Two Businesses in Rochester, New York - Youngblood Disposal and Silvarole Transfer
September 06 2018 - 3:03PM
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
Youngblood Disposal Enterprises of Western New York, LLC and its
wholly owned subsidiaries (collectively “Youngblood”) and of
Silvarole Transfer, Inc., and select assets of Silvarole
Trucking, Inc. (collectively “Silvarole”). Both transactions
closed on August 31, 2018.
Youngblood is a leading provider of residential, commercial and
roll-off collection services in the Rochester, NY
marketplace. Silvarole operates a 950 tons per day solid
waste transfer station and provides roll-off collection services in
the Rochester, NY marketplace. In total, the Company expects
to generate approximately $30 million of annualized revenues from
the Youngblood and Silvarole acquisitions.
“As part of our 2021 strategic plan, we set a 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. “Including the acquisition of Youngblood and
Silvarole, we have acquired nearly $50 million of annualized
revenues during 2018, which puts us ahead of our goal for the year
and which we expect will drive higher cash flows and growth in key
markets.”
“Youngblood and Silvarole have both built exceptional businesses
that are well regarded by their customers, have strong operational
performance and excellent teams,” Casella said. “We believe
that these acquisitions are a great strategic fit with our
operations and our long-term plan. We are excited to enter
the Rochester market, which presents a great opportunity to extend
into an adjacent market and internalize additional volumes to our
landfills in Western New York that currently have excess annual
capacity.”
“We are extremely pleased to welcome the hardworking Youngblood
and Silvarole employees to our team,” Casella said. “And, we
look forward to continuing to provide excellent service to their
customers and the communities they serve.”
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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