Florida based waste and recycling firm, National Waste Management Holdings, (OTCQB: NWMH), it has completed its acquisition of Bainbridge, New York based Waste Recovery Enterprises for $250,000 and 2.75 million restricted shares.
NWMA is a vertically integrated solid waste management company focused on C&D collection, hauling and recycling.
Waste Recovery Enterprises operates a permitted waste processing and disposal facility in Bainbridge, around 200 miles northwest of New York City. The facility has been in continuous operation since 1998 and principally serves the northeastern US industrial and residential markets.
According to MWMH the acquisition is expected to generate revenue for National Waste in excess of $1.5 million annually with gross profit margins of approximately 45%.
“The addition of this facility to National Waste’s family of permitted facilities provides us with a northeastern presence and an exceptional platform to better serve and expand into key waste markets,” commented National Waste’s CEO, Louis Paveglio.
“Waste Recovery’s facility will allow us to enhance our service offering, bid and win more work, and increase penetration of key accounts,” he continued.
Jeff Chartier, president of National Waste added: “The acquisition of Waste Recovery is consistent with our business strategy to acquire facilities that increase our geographic footprint, augment services to existing customers, and attract new customers in under serviced markets.”
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