Quest Resource Acquires Regional Asset-Light Waste Service Provider For $3.35M

Quest Resource Holding Corp QRHC has acquired an independent environmental services company, primarily servicing customers in the northeast region of the U.S., for $3.35 million in cash.
The company expects the transaction to be accretive on a free cash flow per share basis. The acquired business is expected to produce a proforma annual net operating income of $0.6 million.
"This acquisition expands our presence in the commercial real estate market with the average relationship with the largest 10 customers of more than 7 years," stated Quest President and CEO S. Ray Hatch.
The company held cash and equivalents of $9.1 million as of September 30, 2021.
Price Action: QRHC shares are trading lower by 0.49% at $7.06 on the last check Tuesday.