Budget Waste Inc. (PINKSHEETS: BDGW) announced today that it has signed a comprehensive letter of intent to acquire the assets of Broadband Communication Services Inc. A closing is anticipated to happen in the first quarter 2008, following customary due diligence which has been ongoing for some weeks.
Broadband Communication Services Inc. (“BBCS”), headquartered in Nebraska City, Nebraska, is a construction and infrastructure placement company that operates underground construction companies throughout the United States. BBCS currently has operations in Texas, Nebraska, Oklahoma, Iowa, Kansas, Missouri, and Arkansas in support of clients who serve a variety of industries, including natural gas distribution, cable television, telephone (both wireless and landline), electrical construction and distribution, and municipal water and sewage providers. BBCS has 85 full-time employees and manages projects using nine other subcontractors, with close to 100 additional full-time employees.
“We are excited about the opportunity to add this dynamic company to our organization,” stated Jim Can, CEO of Budget Waste. “BBCS will complement our current business and permit both companies to take advantage of intercompany synergies and new market opportunities. We are using this strategic acquisition to position Budget as a broader market service provider.”
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