Adds 17,000 Residential and Commercial Customers
ATLANTA, GA, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Meridian Waste Solutions, Inc. (NASDAQ: MRDN) (“Meridian” or the “Company”), an integrated, non-hazardous solid waste services and innovative technology company, is pleased to announce the closing of the acquisition of Wilson Waste Systems, LLC (“Wilson Waste”). The transaction expands Meridian’s footprint in Missouri with environmental service operations in the greater St. Louis marketplace, particularly St. Charles, Lincoln and Warren Counties.
Wilson Waste provides residential and commercial collection and disposal services to approximately 17,000 customers with an employee base of 27 from its sole hauling company located within the City of Warrenton. These operations and employees will immediately be integrated into Meridian Waste’s local Missouri operating systems and team of dedicated waste professionals. Disposal will include 100% internalization into the Company’s Eagle Ridge Landfill in Bowling Green, MO.
“Wilson Waste has developed a solid base of customers with long-term contracts adding immediate waste volume into our landfill in Bowling Green. This is a classic “tuck-in” acquisition,” said Jeff Cosman, CEO of Meridian Waste. “Over the past year, our operations team in Missouri has consolidated billing systems, accounting systems, routes and new contracts preparing for additional opportunities, like Wilson Waste, in the marketplace. Because of the hard work over the past year building our internal infrastructure, the Company believes Wilson Waste can quickly be consolidated into our operations. The Company’s strategy continues to build internalized volumes into our landfills in Virginia and Missouri, while developing long term objectives with new commercial and residential contracts.”
About Meridian Waste Solutions, Inc.
Meridian Waste Solutions, Inc. (NASDAQ: MRDN) is a company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions for the resource needs and challenges of our customers with a fundamental objective to seek rewarding environmental solutions through technology and innovation. Our core waste business is centered on residential and commercial waste collection and disposal. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 130,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates three transfer stations, one recycling facility and three municipal solid waste landfills. The technology division centers on creating community-based synergies through healthcare collaborations and software solutions. Our innovation division (http://attisinnovations.com) strives to create value from recovered resources, through advanced byproduct technologies and assets found in downstream production. For more information, visit www.MWSinc.com.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.