SOURCE: Infinity Resources Holdings Group
FRISCO, TX--(Marketwired - Sep 18, 2013) - Infinity Resources Holdings Corp. (OTCQB: IRHC) CEO Brian Dick today issued an open letter to shareholders.
As many of you know, Infinity Resources Holdings Corp. announced in July that it had acquired the remaining 50 percent of Quest Resource Management Group, making Quest a wholly-owned subsidiary of Infinity. I am a co-founder of Quest and have been its Chief Executive Officer since 2007. At the conclusion of the acquisition, I was appointed by the Directors of both Infinity and Quest to the role of President and CEO of the combined organization which includes Infinity, Earth911, YouChange and, of course, Quest. I also accepted an appointment to Infinity's Board of Directors.
Following more than a decade focused on recycling, compliance and resource management, my partner and I started Quest in 2007 with an idea and a contract to help Walmart more efficiently manage one of its waste streams in a local market. Today, only six years later, the company has grown to more than $130 million in annual revenues with a broad array of blue chip customers.
The combination of the organizations was executed to achieve a focused growth platform, significant commercial and cost synergies, simplified operational and financial structures and, as a result, the creation of additional shareholder value. In short, we have created a unique, fast growing, publicly-traded company in the substantial recycling and resource management market. As a combined entity, we will be able to extend our current strategies to use our entire spectrum of sales and marketing tools, which now includes our established social media asset, Earth911, to drive revenue growth.
The executive team and Board have spent the first couple of months since the acquisition taking a hard look at the operations of all three organizations. We have assessed their value, facilities and resources in terms of fit with the new business structure. We have made personnel decisions and eliminated redundancies in order to emerge as an effective and cost efficient organization. While we are not finished with the integration, we are beginning to look ahead, and our next job is to focus each part of the organization on contributing to growth and bringing value to our customers.
One thing not in question is our belief in a bright and successful future. The team we have in Frisco, Texas today is proven and ready to take us to the next level. The new combined company will have a much greater marketing reach, and will be able to impact an even larger investor audience and customer base.
But what is most exciting is that over the past years, we have proven our value proposition to our clients, to their communities and to the environment. What we bring to a prospective client is simple: we offer them the ability to cut costs and diminish the time and resources they expend on recycling by outsourcing the handling and management of waste streams. We recycle everything from cooking oil to used oil, from scrap tires to food waste. We provide these services in a way that does not disrupt our clients' operations while we add to their bottom line and help make them better corporate citizens. In addition to recycling, we also can manage our clients' solid waste streams to minimize expense and decrease their dependence on landfills. These programs go hand in hand, and provide a comprehensive suite of services that incorporates the very latest technologies available in our industry.
This is a powerful message and business proposition evidenced by our rapid growth, from one client in one state at the beginning to multiple clients with more than 14,000 locations across all 50 states, Canada and Puerto Rico. What makes us different is the ability to rapidly respond and scale without the need for large capital outlays or investments in equipment fleets. Instead we have built and continue to grow a multi-dimensional and widespread network of service partners. The network includes more than 4,000 waste handling and recycling firms with approximately 30,000 trained individuals, 24,000 vehicles and 600 recycling facilities across the US and Canada.
I want to assure each and every shareholder that the value of your investment is paramount in the minds of our entire management team. Since I am now a major shareholder, our interests are aligned, and we will be working to make sure that this exciting corporate story is told to a broadening audience.
There are still a number of corporate, administrative and integration activities taking place that will continue over the coming weeks and months, and we are committed to communicating our progress on a regular basis. We will also take our story to Wall Street to build interest among the influencers there, and we believe that a growing number of investors will respond to the successful history and future opportunity our business represents.
I want to personally thank you for your interest in the company and for your support of the combined organization. I take the responsibility of stewarding this company and your investment seriously and look forward to interacting with you and sharing our progress as we move forward.
President and Chief Executive Officer
About Infinity Resources Holdings Corp.
Infinity Resources Holdings Corp. is the parent company of Earth911, Inc. and YouChange, Inc. Earth911 is the parent company of Quest Resource Management Group, LLC. Collectively, Infinity's portfolio of sustainability companies covers the full spectrum of the recycling life cycle, providing innovative waste reduction and landfill diversion solutions for recycling and proper disposal of commercial and consumer waste streams.
Safe Harbor Statement
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include statements regarding the company's assessment that combining the underlying organizations will help Infinity to achieve overall growth, benefitting from a simplified operating and financial structure and significant commercial synergies; the company's view that the additional scale and expertise across a broader segment of recycling and resource management spectrum will allow the company to accelerate the capture of the opportunity, creating innovative ways to reach new commercial and community markets; and the company's assessment that the combination should generate additional opportunities for growth, open new markets, and present opportunities for cost synergies and greater profitability. We caution that these statements are qualified by important factors, many of which are beyond our control, which could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include risks related to the integration of Quest and Earth911, competition in the recycling services industry, demand for our services, our ability to expand our markets, the impact of the current economic environment, and other risks detailed from time to time in our reports filed with the SEC, including our Form 10-K Report for the transition period ended December 31, 2012.