Quest to hire advisor to assist in lowering long-term cost of capital

“We achieved solid progress in the fourth quarter, driven by positive momentum across our business that has continued into the early part of 2024,” added Mr. Hatch. “We expect significant additional efficiencies to come from investments in our technology platform, which are in addition to savings from the previously announced $1.7 M in annualized cost efficiencies from the integrations of acquisitions. Quest is poised for sustained organic growth as we pursue numerous opportunities to accelerate our momentum with new client wins and expand our relationships with current ones, and we look forward to capitalizing on the wide range of attractive opportunities in both our existing markets and beyond.”…The Board of Directors, along with management, has formed a committee that will evaluate alternative long-term debt structures to lower our long-term cost of capital and to support long-term growth. The committee is in the process of retaining an independent financial advisor to assist in the process. Additionally, the Board is adding current director Glenn Culpepper, former Chief Financial Officer of Republic Services to the Audit Committee as Chairman. Daniel Friedberg, Quest’s Chairman of the Board, added, “These actions reflect the Quest Board’s ongoing commitment to positioning the Company for long-term success and driving value for all shareholders. To that end, we are evaluating how we can best manage our debt and continue to identify ways to drive operating efficiencies, increase profitability, generate cashflow, and maximize long-term shareholder value.”