Benzinga | Nov 10, 2021 06:30PM EST

Quest Resource Holding Corporation Acquires Asset-Light Waste Services Provider For $2.15M

Quest Resource Holding Corporation (NASDAQ:QRHC) ("Quest"), a national leader in environmental waste and recycling services, announced today that it has acquired the assets of a Kentucky-based independent environmental services company.

The total consideration of the acquisition at close is $2.15 million, which will be paid in a combination of cash and deferred compensation. During the Trailing Twelve Month (TTM) period ending on June 30, 2021, the acquired assets, which mainly consist of customer contracts, are estimated to have produced approximately $0.4 million of operating income and EBITDA.

"This business has built strong customer loyalty and has a reputation for delivering high levels of customer service, which makes it a direct fit with our customer-first approach to evaluating acquisition opportunities," said Quest President and Chief Executive Officer S. Ray Hatch. "Their customers will add incremental volume to our business, and we look forward to providing additional value and offering broader service capabilities to this client base."