Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, June 30, 2023

Article Excerpt

CASELLA WASTE SYSTEMS INC., $90.45, symbol CWST on Nasdaq, is a Vermont-based waste management company that services seven Northeastern U.S. states (Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine and Pennsylvania) through 50 collection operations, 26 recycling facilities, 9 disposal facilities, 3 landfill gas-to-energy facilities, and 66 transfer stations. Casella was founded in 1975 by Doug Casella, who used a pick-up truck to collect waste from customers in Rutland, Vermont, and nearby Killington. His brother John joined shortly after that. The company went public in 1997 at $18 a share. The company announced on June 12, 2023, that it would acquire the assets of Consolidated Waste Services LLC for $219 million. That firm operates as Twin Bridges out of Clifton Park, New York. Twin Bridges’ facilities include two collection operations, a recently built transfer station, a “state-of-the-art” material recovery facility (MRF) with robotic technology, and an office building. Twin Bridges is expected to generate $70 million in revenue in 2023 and add immediately…