Moreover, it allows us to expand our footprint geographically while gaining economies of scale.
Hernando, FL (PRWEB) January 12, 2016
National Waste Management has acquired two companies in a process finalized at the end of 2015. As the Hernando, FL, waste management services company heads into 2016, they are aiming for continued growth and an increased presence in upstate New York.
The first acquisition was Waste Recovery Enterprises LLC, located in Bainbridge, NY, and purchased for $250,000 and 2.75 million restricted shares. In a press release dated Oct. 28, 2015, on the National Waste Management website, the company stated that the deal could bring National Waste Management approximately $1.5 million in revenue along with gross profit margins of approximately 45%.
The second acquisition took place at the tail end of the year, when National Waste Management purchased Gateway Rolloff Services, L.P. The portable dumpster service, which was based out of Odessa, FL, was purchased for $450,000 cash and 2.4 million restricted shares; a Dec. 2 press release from National Waste Management estimated that the purchase could bring the company $2.3 million in annual revenue and gross profit margins of approximately 36%.
Waste Recovery Enterprises is located about 200 miles from New York City and would represent the first foray into upstate New York territory for National Waste Management. Gateway Rolloff Services specializes in the removal of debris (including that from demolition), garbage, and construction waste.
Jeff Chartier, President of National Waste Management, said that the acquisition of Waste Recovery will "increase our presence in upstate New York," whereas the purchase of local Gateway Rolloff Services would help to increase the amount of materials and revenue brought to the company's existing landfill.
"National Waste Management continues to execute on our strategy to become a full service solid waste management company and a dominant regional player. We continue to identify additional growth opportunities, both organic and through strategic acquisitions, which will help transform us into a leading vertically-integrated solid waste management company," Chartier commented.
"Moreover," he continued, "it allows us to expand our footprint geographically while gaining economies of scale."
Chartier said National Waste Management should see numbers by the end of the first fiscal quarter for 2016. So far, the acquisitions have "moved along well" and will increase revenues once all three companies are integrated together.
About National Waste Management Holdings Inc.:
National Waste Management Holdings Inc., is a growing and emerging vertically integrated solid waste management company with a concentration on C&D collection, hauling and recycling. National Waste services Florida’s west coast and upstate New York and is a distinguished leader in solid waste services. More information may be found at the Company’s website: http://www.nationalwastemgmt.com.