National Waste Management Holdings Inc., a publicly-traded solid waste firm traded on over-the-counter markets, has acquired Northeast Data Destruction and Recycling LLC, located in Kingston, N.Y., for an undisclosed price.
The transaction, which closed December 31, 2016, expands National Waste Management's base operations in Upstate New York, where the company is responding to customer demand for cardboard recycling and document destruction, hard drive destruction, and other data destruction.
"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. We are currently searching for a good building—either to buy or move into—that will best suit our needs and the needs of our new client base in the area," National Waste Management CEO Louis "Tiny" Paveglio said in a statement. "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."
National Waste Management's acquisition strategy calls for at least one acquisition per quarter, subsequently diversifying revenue streams. The acquisition of Northeast Data Destruction and Recycling demonstrates management's commitment to this aggressive business model.
"We are proud to announce our final acquisition of 2016, an achievement on par with our goal to become vertically integrated via strategic acquisition," National Waste Management CFO Dali Kranzthor said in a statement. "We have more acquisitions in the pipeline and look forward to another year of building value for National Waste and its shareholders."