Quest Resource Holding: Surges on deal to buy Green Remedies

Quest Resource Holding

20/10/2020 18:24

** Shares of waste and recycling services provider  QRHC.O 
jump as much as 20% to 8-month high of $2.36
    ** QRHC acquires solid waste and recycling service firm
Green Remedies Waste and Recycling Inc, based in Elon, North
Carolina   urn:newsml:reuters.com:*:nGNXbQCBKV
    ** Says total consideration of acquisition at close is $16.2
mln and the deal will strengthen its presence across key
markets, particularly in the multi-family housing segment
    ** QRHC plans to fund the deal primarily from term loan
arranged by Monroe Capital, with $11.5 mln drawn at closing
    ** H.C. Wainwright & Co believes QRHC is now shifting gears
from re-evaluating its customer and revenue mix, having improved
its margins, to now accelerating topline and cash flow growth
    ** Brokerage says acquisition allows QRHC to further
diversify rev into residential market; views asset-light model
of Green Remedies to be in line with the QRHC's business model
    ** Stock up ~5% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))