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CERF Acquires The Bin Company
CERF Incorporated completed the acquisition all the assets used in the business of The Bin Company Inc. through CERF's wholly owned subsidiary, The Smart-Way Disposal & Recycling Company Ltd. Bin Company's business involves waste collection, reduction and disposal in and around the Edmonton, Alberta, area market.
CERF paid a cash purchase price of $1,050,000 as consideration for the assets. The cash was provided from existing credit facilities. The effective date of the transaction is April 1, 2012.
Wayne Wadley, president of CERF states, "We are pleased to acquire the assets of The Bin Company Inc. as they will integrate nicely with our existing operations of Smart-Way in the Edmonton area. Smart-Way's strategy to increase our presence in the homeowner and retail markets with products like our EZ-Bag will now be accelerated with the addition of Bin Company's BinBag. Bin Company's fleet of trucks and disposal bins and diverse customer base will also complement Smart-Way's fleet of similar assets."
CERF is a Canadian public corporation engaged in the rental, sale and service of industrial and construction equipment and waste management and environmental services. CERF trades on the TSX Venture Exchange under the symbol "CFL". More information on CERF can be seen at www.cerfcorp.com. Details of the products and services offered by Smart-Way are available at www.smartwaydisposal.com and information on The Bin Company Inc. is available at www.bincompany.com. Related subsidiaries of CERF include 4-Way Equipment Rentals Corp. at www.4-way.com and MCL Waste Systems & Environmental Inc. at www.mclwaste.ca.
Article Date: 2012-04-23
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