GFL Environmental Inc has agreed to acquire the parent of Deep Foundations Contractors Inc and affiliates, a Stouffville, Ontario-based specialist in project foundation piling and shoring. No financial terms were disclosed for the deal, which is expected to close in the second quarter. GFL, a Toronto-based environmental services business, said the buy will help grow the Canadian footprint of its infrastructure and soil remediation unit. The company, backed by HPS Investment Partners, Macquarie Group and Hawthorn Equity Partners, is reportedly planning the launch of a $1-billion initial public offering in 2018.
GFL to Acquire Deep Foundations Group of Companies
TORONTO, Feb. 9, 2018 /CNW/ – GFLF Environmental Inc. (“GFL”) announced today that it has entered into a definitive agreement to acquire the parent of Deep Foundations Contractors Inc. and its subsidiary corporations (the “Deep Group”). Completion of the transaction is subject to customary closing conditions, including certain regulatory approvals and other consents. GFL and the Deep Group will work together to obtain the required approvals and consents and expect to close the transaction in the second quarter of 2018.
For more than 45 years, the Deep Group has delivered successful foundation piling and shoring work for its clients on a wide range of projects in Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick and Newfoundland, including the Children’s Hospital of Saskatchewan and the Bayview and Avenue Stations on the Eglinton Crosstown Light Rapid Transit project in Toronto, Ontario.
“Built on a culture of safety first, quality workmanship and a committed employee and management team, the Deep Group will complement GFL’s existing shoring and foundation capabilities. The Deep Group and its employees bring expertise and processes that GFL expects to build upon as we move to expand the footprint of our Infrastructure & Soil Remediation division into other parts of Canada” said Patrick Dovigi, GFL’s Founder and Chief Executive Officer.
“We are excited to welcome the Deep Group and its employees to the GFL team.”
About GFL Environmental Inc.
GFL, headquartered in Toronto, ON, is a diversified environmental services company providing a comprehensive line of solid waste, infrastructure & soil remediation and liquid waste management services through its platform of facilities across Canada and in Southeastern Michigan. GFL has a workforce of more than 5,000 employees and provides its broad range of environmental services to more than 80,000 commercial and industrial customers and its solid waste collection services to more than 2.5 million households.
For further information: Patrick Dovigi, Founder and Chief Executive Officer, +1 416 673 9385, email@example.com
Photo courtesy of Deep Foundations Contractors Inc