- The purchase price was about $525 million
- Casella’s acquisition includes nine hauling operations, one transfer station and one material recovery facility in the US Mid-Atlantic region
- GFL Environmental is backed by BC Partners, Ontario Teachers’ Pension Plan and HPS Investment Partners
Casella Waste Systems has completed its acquisition of the Pennsylvania, Delaware, and Maryland collection, transfer and recycling operations of GFL Environmental. The purchase price was about $525 million.
Casella is a Rutland, Vermont-based regional solid waste, recycling, and resource management services company. With headquarters in Vaughan, Ontario, GFL is an environmental services provider.
The acquisition includes nine hauling operations, one transfer station and one material recovery facility and is expected to generate aggregate annualized revenues of around $185 million, according to statement issued by Casella.
The investment was funded via a combination of Casella’s $430 million term loan A under its existing senior secured credit facility and proceeds from a recent equity offering.
“This is an exciting step forward in our company’s growth strategy as we extend our footprint into the Mid-Atlantic with a new platform for future growth,” said John W Casella, chairman and CEO of Casella Waste Systems.