HERNANDO, Florida, December 2, 2015 /PRNewswire/ --
National Waste Management Holdings, Inc. (OTC: NWMH), announced today that it has completed its acquisition of Gateway Rolloff Services, L.P. ("Gateway"), a portable dumpster service with pick up and drop off collection, specializing in the removal of debris, garbage, waste, hauling construction, and demolition debris located in Odessa, Florida for $450,000 cash and 2.4 million restricted shares. The completed acquisition is expected to generate revenue for National Waste in excess of $2.3 million annually with gross profit margins of approximately 36%.
"By combining Gateways' roll-off services with our existing landfill business, we will be able to offer better rates and comprehensive end-to-end solid waste solutions for our customers," stated National Waste's CEO, Louis Paveglio. "Moreover, it allows us to expand our footprint geographically while gaining economies of scale."
"National Waste 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," added Jeff Chartier, President of National Waste.
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.
This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward-looking statements. We have identified forward-looking statements by using words such as "expect," "believe," and "should." Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form SEC filings.
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SOURCE National Waste Management Holdings Inc