THE COLONY, TX--(Marketwired - September 20, 2016) - The RMR Group, an alternative asset management company with over $23B under management and 1,300 real estate properties, announced today that it has hired Quest Resource Holding Corporation (NASDAQ: QRHC) ("Quest"), to manage municipal solid waste and recycling efforts at its managed commercial properties.
"Quest is excited to work with The RMR Group and help minimize the amount of municipal solid waste generated at their managed commercial properties, as well as reduce their costs at its commercial properties," said Ray Hatch, Quest's CEO. "This new relationship demonstrates Quest's high-value, economically attractive, technology-driven turnkey solution resonates with large enterprises across a wide selection of verticals, from automotive, to manufacturers, to retailers and commercial property management," added Hatch.
"Quest demonstrated the ability to develop a suite of services exclusively targeted to fit the requirements of our complex operation," said Casey Guittarr, RMR Real Estate Services Director of Procurement and Contracts Management. "We are looking forward to working with Quest and to help reduce the amount of waste generated at our properties in a cost-effective, sustainable and optimally responsible manner," added Mr. Guittarr.
With this new customer addition, Quest now manages recycling programs for over 20 million of square feet of commercial space.
About Quest Resource Holding Corporation
Quest provides businesses with one-stop management programs to reuse, recycle, and dispose of a wide variety of waste streams and recyclables generated by their businesses. Quest's comprehensive reuse, recycling, and proper disposal management programs are designed to enable regional and national customers to have a single point of contact for managing a variety of waste streams and recyclables. Quest also operates environmentally based social media and online data platforms that contain information and instructions necessary to empower consumers and consumer product companies to recycle or properly dispose of household products and materials. Quest's directory of local recycling and proper disposal options empowers consumers directly and enables consumer product companies to empower their customers by giving them the guidance necessary for the proper recycling or disposal of a wide range of household products and materials, including the "why, where, and how" of recycling.
About The RMR Group
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies. As of June 30, 2016, The RMR Group LLC had approximately $23.4 billion of real estate assets under management including more than 1,300 properties and employed over 400 real estate professionals in 25 offices throughout the United States; the companies managed by The RMR Group LLC collectively had over 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a "safe harbor" for such statements in certain circumstances. The forward-looking statements include statements or expectations regarding Quest's beliefs is excited to work with The RMR Group, that it can help commercial properties minimize the amount of municipal solid they generate, that it can reduce their costs, that it demonstrates that Quest's high-value, economically attractive, technology-driven turnkey solution resonates with large enterprises across a wide selection of verticals, from automotive dealerships and suppliers, to manufacturers, to retailers and to commercial property management
These statements are based on Quest's current expectations, estimates, projections, beliefs, and assumptions. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including competition in the environmental services industry, the impact of the current economic environment, and other factors discussed in greater detail in Quest's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2015. You are cautioned not to place undue reliance on such statements and to consult Quest's SEC filings for additional risks and uncertainties that may apply to Quest's business and the ownership of its securities. Quest's forward-looking statements are presented as of the date made, and Quest disclaims any duty to update such statements unless required by law to do so.