Casella Waste Systems Acquires Connecticut Based Willimantic Waste Paper Co., Inc.
July 26 2021 - 4:00PM
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically
integrated solid waste, recycling and resource management services
company, announced that it acquired Willimantic Waste Paper Co.,
Inc. (“Willimantic”) on July 26, 2021.
Willimantic provides residential, commercial and roll-off
collection services in eastern Connecticut and serves over 30,000
customers. In addition, Willimantic operates a rail-served
construction & demolition processing and waste transfer
facility, a waste transfer station, a single stream recycling
facility, and several other recycling operations. The Company
expects to generate approximately $62 million of annualized
revenues from the Willimantic acquisition.
“We are excited about the acquisition of Willimantic and the
expansion of our operating footprint into adjacent markets in
eastern Connecticut,” said John W. Casella, Chairman and CEO of
Casella Waste Systems, Inc. “Willimantic is a leading operator in
its markets, well regarded by their customers, with strong
operational performance and an excellent team.”
“We believe that Willimantic will provide an excellent platform
for future growth, with the opportunity to further scale our
resource solutions business,” Casella said.
“We are extremely pleased to welcome the hardworking Willimantic
employees to our team and we are eager to partner with Tim DeVivo
and Tom DeVivo on integrating their business into Casella,” Casella
said. “And, we look forward to continuing to provide excellent
service to our new customers and the communities that Willimantic
serves.”
“Willimantic marks our fifth acquisition in 2021, as we continue
to execute well against our long-term growth strategy,” Casella
said. “In total we have acquired approximately $67 million of
annualized revenues year-to-date. Our acquisition and development
pipeline remains robust, and we believe that there is substantial
opportunity to drive additional cash flow growth with opportunistic
acquisitions.”
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 acquisition 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. 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, 2020, 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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