Eric Bauer has been appointed the new CFO at Sharps Compliance Corp. He is replacing Diana Diaz, who is staying on with the company as its Chief Accounting Officer. Ms. Diaz had been the CFO since June 2010.
Sharps is a waste management company that handles medical, pharmaceutical and hazardous waste for small to mid-size companies such as pharmacies, dentist offices and nursing homes. The company went public in 2009 and has a market capitalization of $120 million. Its head office is just south of NRG Stadium.
Mr. Bauer was the CFO at Nuverra Environmental Services until its acquisition by Select Energy Services last week. He joined Nuverra in April 2020 on a three-year contract as interim CFO. Before that he worked in investment banking at Evercore Partners, CITI and Lehman Brothers.
For the year ended June 30, 2021, revenues at Sharps increased by almost 50% to $76 million, primarily driven by waste disposal related to Covid-19 vaccines. Since then, the company has made two small acquisitions in October 2021 for $2.2 million and in February 2022 for $4.3 million. The company has a growing cash pile – $32.5 million at December 2021 – and is looking to make more acquisitions.
Mr. Bauer will receive a base salary of $275,000. That’s the same base that Ms. Diaz was receiving.