Date: June 6, 2011
Source: Swisher Hygiene, Inc.
Industry legend H. Wayne Huizenga's latest venture Swisher Hygiene (Charlotte, NC) is buying two more Florida waste companies, expanding its push into the waste business. Swisher announced its $15 million acquisition of two companies: Central Carting Disposal and its sister company CCI Hauling, which collectively serve more than 26,000 customers in the central Florida market. Swisher, which provides commercial cleaning products and services, entered the waste business earlier this year with its $92 million purchase of Fort Lauderdale, FL-based Choice Environmental Services. Glen Miller was CEO of Choice and now leads the waste management practice for Swisher. "The acquisition of Central/CCI provides Swisher Hygiene with another strong platform for the ongoing execution of our growth and expansion strategy throughout Florida," he said.
See also: "Swisher Hygiene Reports 86% Jump in First Quarter Revenue," (www.wasteinfo.com/news/wbj20110518D.htm).
June 6, 2011
Swisher Hygiene to Acquire Central Carting and CCI Hauling
Swisher Hygiene Inc. ("Swisher Hygiene") (Nasdaq:SWSH) (TSX:SWI), a leading provider of essential hygiene and sanitation products and services, today announced it has entered into an agreement to acquire Central Carting Disposal, Inc. ("Central") and its sister company CCI Hauling, Inc. ("CCI").
Central/CCI serves over 26,000 customers throughout Central Florida. Angelo Verrelli started the companies in 1997 with one truck, and built the companies to become one of the largest private haulers in Florida.Â He brings over 40 years of experience in the Central Florida waste industry to the Swisher Hygiene team.
"The acquisition of Central/CCI provides Swisher Hygiene with another strong platform for the ongoing execution of our growth and expansion strategy throughout Florida," stated Glen Miller, Chief Executive Officer of Swisher Hygiene's Choice Environmental Services subsidiary. "We are excited to have Angelo Verrelli and his team join the Swisher Hygiene family, and believe his extensive experience in the industry will be a significant benefit to Swisher Hygiene as we grow our business."
"Central/CCI is a perfect match with Swisher Hygiene, both of which have been built by always putting the customer first," said Mr. Verrelli. Â "Provided the opportunity to join a dynamic group with various potential growth plans and prospects, I decided to come on board with the Swisher Hygiene family."
Total consideration paid by Swisher Hygiene in connection with the acquisitions includes up to $15,000,000 in cash.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this news release, including any information as to the future financial or operating performance of Swisher Hygiene, constitute "forward-looking information" or "forward-looking statements" within the meaning of the U.S. federal securities laws and the Securities Act (Ontario) and are based on the expectations, estimates and projections of management as of the date of this news release unless otherwise stated. All statements other than historical facts are, or may be, deemed to be forward looking statements. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressionsidentify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Swisher Hygiene as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies.Â The estimates and assumptions of Swisher Hygiene contained in this news release, which may prove to be incorrect, include but are not limited to, the various assumptions set forth herein as well as the accuracy of management's assessment of the effects of the successful completion and integration of the acquisitions.Â All of these assumptions have been derived from information currently available to Swisher Hygiene including information obtained by Swisher Hygiene from third-party sources. These assumptions may prove to be incorrect in whole or in part. All of the forward-looking statements made in this news release are qualified by the above cautionary statements and those made in the "RiskFactors" section of Swisher Hygiene's Annual Report on Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission, available on www.sec.gov, and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com, and Swisher Hygiene's other filings with the Securities and Exchange Commission and with Canadian securities regulators available on Swisher Hygiene's SEDAR profile at www.sedar.com. The forward-looking information set forth in this news release is subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking information.Â
Swisher Hygiene disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.Â
About Swisher Hygiene Inc.
Swisher Hygiene Inc. is a NASDAQ and TSX listed company that provides essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of 83 company-owned operations, 4 franchises and 10 master licensees operating in countries across Europe and Asia.Â These essential solutions include cleaning and sanitizing chemicals, foodservice and laundry products, restroom hygiene programs and a full range of related products and services. The company's most recent program enhancement is its introduction of solid waste management services to commercial and residential customers in selected markets. Together, this broad set of offerings is designed to promote superior cleanliness and sanitation in all commercial environments from door to dumpster, enhancing the safety, satisfaction and well-being of employees and patrons. Swisher Hygiene's customers include a wide range of commercial enterprises, with a particular emphasison the foodservice, hospitality, retail, industrial and healthcare industries.
CONTACT: Swisher Hygiene Inc.
Phone: (704) 602-7116
Garrett Edson, ICR
Phone: (203) 682-8331
Alecia Pulman, ICR
Phone: (203) 682-8224