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ENVIRONMENTAL SERVICES OF AMERICA COMPLETES ACQUISITION OF TRI-S

 ENVIRONMENTAL SERVICES OF AMERICA COMPLETES ACQUISITION OF TRI-S
 NEWARK, N.J., March 20 /PRNewswire/ -- Environmental Services of America, Inc. (NASDAQ-NMS: ENSA) announced today that it had completed the acquisition of all of the outstanding stock of TRI-S, Inc. for approximately $1.11 million plus contingent payments based on reaching certain profitability targets. The $1.11 million purchase price consists of $350,000 in cash, $250,000 in shares of common stock of ENSA (equal to 61,425 shares) and a 30-month promissory note in the amount of $510,000.
 TRI-S, based in Ellington, Conn., is primarily a hazardous waste remediation, transportation and consulting company servicing commercial and industrial waste generators in the New England area. The consulting division, TRI-S Environmental Consulting, is based in Brattleboro, Vt. For the year ended Dec. 31, 1991, TRI-S' audited financial statements show revenues of approximately $6.9 million, operating cash flow (EBITDA) of approximately $520,000, operating income (EBIT) of $231,855 and net tangible book value of approximately $825,000.
 Jon Colin, president and chief executive officer of ENSA, stated: "TRI-S' excellent reputation and blue chip client base give ENSA an immediate market presence in the New England area. The acquisition will enable TRI-S to take advantage of ENSA's permitted TSD facility and more competitively bid for contracts, while giving ENSA valuable waste feed for its TSD."
 Environmental Services of America, Inc. is a diversified environmental services firm specializing in the identification, management, treatment, transportation and disposal of hazardous and non- hazardous waste. Additionally, the company provides consulting services relating to sub-service geological investigations and air-quality testing, analysis and monitoring for private and public entities. The company operates a permitted TSD facility (treatment, storage and disposal) in Canastota, N.Y., which provides drum waste transfer and bulking services to clients in the mid-Atlantic and New England states.
 -0- 3/20/92
 /CONTACT: Jon Colin, president of ENSA, 201-589-3850/
 (ENSA) CO: Environmental Services of America Inc. ST: New Jersey IN: SU: TNM


CK-TQ -- NY009 -- 0018 03/20/92 10:21 EST
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Publication:PR Newswire
Date:Mar 20, 1992
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