RUTLAND, Vt., Oct. 01, 2020 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (NASDAQ: CWST), a regional vertically integrated solid waste, recycling and resource management services company, announced today that it acquired the assets of Pinto Trucking Services, Inc. (“Pinto”) today on October 1, 2020.
Pinto is a provider of residential, commercial and roll-off collection services in the Grand Island and Buffalo, NY market. The Company expects to generate approximately $4 million of annualized revenues from the Pinto acquisition.
“The Pinto team has built an outstanding business that is well regarded by its customers and has solid operational performance,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “The Pinto employees will fit well with our team, and we are pleased to welcome them to Casella. Their commitment to serving the customers and communities in which they operate aligns very well with our core values.”
“The Buffalo market presents a great opportunity to build additional vertical integration in Western New York,” Casella said. “And, we look forward to becoming a part of the Grand Island community, while continuing to provide the excellent service Pinto customers have come to expect.”
“We continue to make great progress with our acquisition efforts in 2020, and with this acquisition we have acquired roughly $21 million of annualized revenues year-to-date through nine transactions,” Casella said. “Our acquisition pipeline remains robust and we believe that there is substantial opportunity to drive additional cash flow growth across our footprint.”
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, including, but not limited to, the statements regarding the benefits of the completed acquisitions and the size of the Company’s acquisition pipeline, are "forward-looking statements". These forward-looking statements can generally be identified as such by the context of the statements, including 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 expected financial benefits from the Company’s acquisitions may not be achieved in a timely manner or at all; the Company may not consummate the transactions reflected in its acquisition pipeline; and competitive or economic factors outside of the Company’s control may impact revenue and costs.
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, 2019, 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.
Chief Financial Officer