Quest Resource Holding Corporation, a national leader in environmental waste and recycling services, has signed a definitive agreement to acquire the assets of an Atlanta-based independent environmental services company.
The total consideration of the acquisition at close is $2.5 million, which will be paid in a combination of cash and an earn-out. During the Trailing Twelve Month (TTM) period ending on March 31, 2021, the acquired assets, which mainly consist of customer contracts, are estimated to have produced Adjusted EBITDA of approximately $0.5 million. The acquisition is expected to be completed in the next 30 to 60 days, subject to customary closing conditions.
We continue to find attractive businesses, like this one, that provide exceptional service and have high client loyalty. This asset purchase will add incremental volume to our existing presence in the multi-family housing market.S. Ray Hatch, Quest President and Chief Executive Officer