Synagro Announces Strategic Acquisition On The West Coast

ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.

SUBSCRIBE/UNSUBSCRIBE |

Conservation & Wildlife

Corporate Responsibility

Science & Technology

Syndication Partners

**************************************************************************

E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE

**************************************************************************

FOR IMMEDIATE RELEASE

Synagro Announces Strategic Acquisition On The West Coast

TEXAS, HOUSTON, Aug. 26 -/E-Wire/-- Synagro Technologies Inc. (Nasdaq:SYGR), a full-service provider of water and wastewater residuals management services, announced today the completion of the acquisition of Earthwise Organics Inc. and Earthwise Trucking (collectively "Earthwise"). Earthwise, with annual revenue totaling approximately $10 million, is one of the largest Class A biosolids compost marketing companies in California. Over the past eight years, Earthwise has sold approximately 500,000 tons of biosolids compost in the Central Valley market. In addition, Earthwise is the single largest composter and marketer of organic dairy manure compost in California. Over the past four years, Earthwise has collected, composted, and marketed over 568,000 tons of dairy manure. The compost products supplied by Earthwise are marketed to farming and landscaping operations from the Coachella Valley to Sacramento County in California. Earthwise's owners, Sam and Lisa Monaco, will join Synagro as vice presidents responsible for the Earthwise operations.

"We at Earthwise are very excited about joining Synagro and continuing our production and delivery of high-quality compost products in the California market," stated Sam Monaco. Synagro's Chief Executive Officer, Ross M. Patten, stated that, "Synagro's acquisition of Earthwise provides Synagro with a very valuable distribution channel for Class A products. Synagro is growing its Class A processing capabilities in California through the recent announcement of the Sacramento dryer and future composting sites, which results in more product to be marketed. Earthwise provides a very strategic platform for us to grow our product marketing presence in this important area."

While the specific terms of the transaction were not disclosed, it was noted that a substantial portion of the consideration to be paid to the Monacos is based on the success of Earthwise's operations for the three years subsequent to the closing date.

Synagro is the largest national company focused on water and wastewater residuals management services in the United States, serving over 1,000 municipal and industrial water and wastewater generators in 35 states and the District of Columbia. The Company offers a range of water and wastewater residuals management services focusing on the beneficial reuse of organic, nonhazardous residuals resulting from the water and wastewater treatment process, including collection and transportation, land application, thermal drying and pelletization, incineration, composting, alkaline stabilization, dewatering, cleanout services, wastewater treatment plant operations and maintenance, product marketing, and related recordkeeping and regulatory reporting services.

This press release contains certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties or other factors not under the Company's control, which may cause the actual results, performance or achievement of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to (1) the ability to find, timely close, and integrate acquisitions, (2) unseasonable weather, (3) changes in government regulations, and (4) the ability to access debt and equity financing when needed. Other factors are discussed in the Company's periodic filings with the Securities and Exchange Commission

Synagro Technologies Inc

Synagro Technologies Inc.,

Ross M. Patten, 713/369-1700

http://www.synagro.com

**************************************************************************

To Transmit Your News Over E-Wire, visit http://www.ewire.com or

call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide

**************************************************************************