Before the opening bell, National Waste Management Holdings, Inc. (OTC: NWMH) announced its acquisition of Northeast Data Destruction and Recycling, LLC, located in Kingston, New York. The transaction, which closed on December 31, 2016, continued to support the company’s aggressive acquisition strategy calling for at least one acquisition per quarter. Through this rapid strategic expansion, National Waste Management aims to effectively diversify its revenue streams while moving toward vertical integration.
“We are proud to announce our final acquisition of 2016, an achievement on par with our goal to become vertically integrated via strategic acquisition,” Dali Kranzthor, chief financial officer of National Waste Management, stated in this morning’s news release. “We have more acquisitions in the pipeline and look forward to another year of building value for National Waste and its shareholders.”
In addition to expanding its base operations in Upstate New York, National Waste Management’s acquisition of Northeast Data Destruction and Recycling comes in response to rising customer demand for cardboard recycling and document destruction, hard drive destruction and other data destruction. The company also expects to leverage its extended reach in the region by offering its existing roll-off services to an expanded client base in the area.
“Acquiring Northeast Data Destruction and Recycling extends our reach to Kingston, New York, allowing us to offer roll-off services as we plan future expansion of this location,” Louis “Tiny” Paveglio, chief executive officer of National Waste Management, added in this morning’s release. “The acquisition enables our sales team to offer the additional services in both locations, and at the same time enables us to trim overhead costs.”
With its latest acquisition now in the books, National Waste Management is primed to continue its recent trend of strong revenue growth. In November, the company released its financial results for the third quarter of 2016, which included a 269 percent year-over-year increase in revenue to $1.7 million. For the first nine months of 2016, National Waste Management’s revenue was up 262 percent over the comparable period of 2015, totaling $4.8 million. Paveglio credited this sustained performance to the “effectiveness” of the company’s acquisition strategy and, in correlation, its “growing customer base.” He went on to call for “continued improvements in profitability” resulting from National Waste Management’s most recent acquisitions, including those of Waste Recovery Enterprises and Gateway Rolloff Services in late 2015, as well as the 2016 acquisition of New York-based Sivart Services.
In an interview with NetworkNewsWire released last month, Paveglio gave prospective investors some additional insight into National Waste Management’s near-term expansion plans. He noted that the company has already identified “a couple acquisitions” for which it is currently performing due diligence, with a goal of completing those transactions during the first two quarters of 2017.
For more information, visit the company’s website at www.nationalwastemgmt.com
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, visit https://www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer
No comments:
Post a Comment