In a concerted effort to fuel its growth engine, Waste Management, Inc. WM recently completed the acquisition of some of the business assets in Florida from regional waste management firms Southern Waste Systems and Sun Recycling. The strategic purchases were made for an undisclosed amount.
Waste Management acquired 12 assets that included residential, commercial, and industrial solid waste collection, processing/recycling and transfer operations, equipment, vehicles, real estate and customer agreements. Spread Palm Beach, Broward and Miami-Dade Counties, the acquired assets offer extensive geographic coverage for Waste Management.
The transaction is a strategic fit for the company and is in sync with its existing operations and service offerings. In addition, the new business assets will enable Waste Management to leverage its physical presence to better serve its customers throughout South Florida.
Headquartered in Houston, TX, Waste Management is the largest provider of comprehensive waste management services in North America. The company provides collection, transfer, recycling and resource recovery, as well as disposal services to residential, commercial, industrial and municipal customers. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the U.S.
Waste Management is executing well on its initiatives to refocus on the core business activities and instil price and cost discipline to achieve better margins. The company aims to focus on improving customer retention by providing better service and higher value solutions. The company’s successful cost reduction initiatives have helped it in accomplishing remarkable gross margin expansion and EBITDA growth.
Waste Management currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include CoreLogic, Inc. CLGX, Franklin Covey Co. FC and The Hackett Group, Inc. HCKT, each carrying a Zacks Rank #2 (Buy).
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