Cass Information Systems acquires Waste Reduction Consultants, Inc
Ponte Vedra Beach, FL and Cambridge, MA – January 27, 2012 – Harbor View Advisors, LLC is pleased to announce the completion of Cass Information Systems’ (NASDAQ: CASS) acquisition of Waste Reduction Consultants, Inc. (WRC). Harbor View served as exclusive financial advisor to WRC in the transaction. In addition, Harbor View had previously worked with WRC through its Accelerator Program, advising the company on a variety of strategic initiatives to support its rapid growth. Terms of the deal were not disclosed.
WRC is a fast-growing provider of expense management services, enabling multi-location businesses to reduce operating costs through information-driven optimization and procurement of waste removal services. The company will continue to grow its business and service its clients as part of Cass, a leader in back office BPO solutions. The acquisition extends Cass’ portfolio of services for controlling facility-related expenses. CEO Bryce Kaspar, who founded Waste Reduction Consultants in 1999, will join Cass and continue to manage the Jacksonville, FL- based operations.
About Harbor View Advisors
Harbor View Advisors works with clients in the software, technology-enabled services and business services industries. The firm’s unique approach combines the strategic thinking of a consulting firm with the execution experience of an investment bank to provide clients with the full spectrum of guidance they need to achieve their long-term goals. Harbor View offers mergers and acquisition advisory, corporate finance and private placement services, as well as outsourced corporate development and strategic consulting to fast-growing technology companies.
About Cass Information Systems
Cass Information Systems, Inc. (NASDAQ: CASS) is the leading provider of transportation, utility and telecom expense management and related business intelligence services, disbursing more than $27 billion annually on behalf of its clients. With annual revenues approaching $100 million and total assets exceeding $1 billion, Cass is a business process outsourcer focused on invoice audit, processing and payment services. Cass Commercial Bank, established in 1906, is a wholly owned subsidiary and Federal Reserve Member Bank, providing sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000(R).
