GFL Environmental has closed its acquisition of the solid waste and environmental solutions business of Toronto-based Terrapure Environmental. The deal, which excludes Terrapure’s battery recycling business, reflected a purchase price of C$927.5 million. GFL, a Vaughan, Ontario-based environmental services company, is backed by BC Partners, Ontario Teachers’ Pension Plan and others. Terrapure is backed by Birch Hill Equity Partners.
VAUGHAN, ON, Aug. 17, 2021 /CNW/ – GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (“GFL”), a leading North American diversified environmental services company, today announced that it has closed the previously announced acquisition of the solid waste and environmental solutions business of Terrapure Environmental Ltd. and its subsidiaries (collectively, “Terrapure”). The acquisition excludes the battery recycling business carried on by Terrapure.
“The acquisition of Terrapure is another example of GFL delivering on our commitment to pursue strategic and accretive acquisitions to continue growing our business,” said Patrick Dovigi, Founder and Chief Executive Officer of GFL. “Terrapure brings a high-quality, complementary network of assets and customer base to our existing solid and liquid waste operations and expands our service offerings in several regional markets. This strategically located network of assets and Terrapure’s strong operating margins are expected to be immediately accretive to free cash flow and provide opportunities for us to continue to pursue our growth strategy.” Mr. Dovigi concluded, “We are excited to welcome the over 1,600 Terrapure employees to the GFL family.”
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 27 states in the United States. Across its organization, GFL has a workforce of more than 15,000. For more information, visit www.gflenv.com. To subscribe for investor email alerts please visit https://investors.gflenv.com or click here.