Quest Resource Holding Corporation Acquires Green Remedies, Strengthening Presence in Strategic Markets - Seite 2
Dan Friedberg, Quest’s Board Chairman added, “Quest is committed to growing long-term shareholder value and to supporting our customers’ sustainability goals. Thanks to the efforts of our entire team, we have built a highly scalable platform that can broadly support the needs of our customers. Our plan continues to focus on growing our existing customer relationships, adding customers organically, and acquiring synergistic, customer-oriented companies; all further enabling us to grow our capabilities, profits, and service levels.”
The acquisition will be financed primarily from a term loan arranged by Monroe Capital with $11.5 million drawn at closing. In addition, Quest potentially has access to more than $50 million in additional term debt financing, subject to the terms and conditions of the Monroe Capital term loan agreement, through a combination of a delayed draw term loan and an accordion facility to support Quest’s growth plans.
Additional details of the Transaction will be available in the Company’s Form 8-K, which will be filed with the Securities and Exchange Commission.
Use of Non-GAAP Financial Measure
This press release includes EBITDA which is a non-GAAP financial measure. EBITDA is calculated as earnings before interest, taxes, depreciation and amortization. The Company believes this non-GAAP
measure provides useful information to shareholders regarding the business of Green Remedies.
About Green Remedies Waste and Recycling
Green Remedies is an environmental and waste expert providing independent national solid waste and recycling services, including risk management support, and developing environmentally responsible
solutions for our clients. Green Remedies is dedicated to superior customer support and service. For more information visit www.GreenRemediesWaste.com.
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About Quest Resource Holding Corporation
Quest is a provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses across the United States and Canada. In
addition, Quest’s programs and services enable customers to address their environmental and sustainability goals and responsibilities. Quest provides information that tracks and reports the
environmental results of Quest’s services, provides actionable data to improve business operations, and enables customers to address their environmental and sustainability goals and
responsibilities. For more information visit www.QuestRMG.com.