GFL Environmental Inc, a portfolio company of U.S. private equity firm Roark Capital Group, has agreed to purchase two subsidiaries of Contrans Group Inc (TSX: CSS). The companies, Tri-Line Disposal Inc and Deuce Disposal Ltd, are waste collection businesses operating in Edmonton and Slave Lake, Alberta, respectively. The deal is expected to close on May 1. Financial terms were not disclosed. Based in Vaughan, Ontario, GFL is an integrated solid and liquid waste company. The acquisitions align with its strategy to be a one-stop shop for meeting liquid and solid waste needs, GFL said. In January, GFL also bought Calgary’s The Garbage Company.
GFL to Acquire Contrans’ Waste Collection Businesses in Alberta
VAUGHAN, ON, April 28, 2014 /CNW/ – GFL Environmental Inc. announced today that is has entered into a definitive agreement to acquire from Contrans Group Inc. (TSX:CSS), its wholly owned subsidiaries Tri-Line Disposal Inc. and Deuce Disposal Ltd.. Tri-Line Disposal Inc. and Deuce Disposal Ltd. are leading waste collection companies with operations in Edmonton and Slave Lake, Alberta respectively. The transaction is scheduled to close on May 1, 2014 and is subject to a number of conditions.
“GFL approached us and informed us that they were very interested in acquiring our waste collection business,” stated Contrans Group Inc.’s Chairman and Chief Executive Officer Stan Dunford. “They are a growing company looking for an established and significant solid waste market presence in Alberta. After undertaking a strategic review, we decided that it would be in Contrans’ shareholders’ best interests to take this opportunity to unlock the equity that the Company has established in its waste collection segment and to focus on our core business of freight transportation. We are deeply grateful for the efforts and dedication of the employees at Tri-Line Disposal and Deuce and wish them all the best in their future endeavours.”
Patrick Dovigi, GFL’s President and CEO said “By joining forces with Tri-Line and Deuce with operations in Edmonton and Slave Lake, Alberta along with its experienced and committed workforce of 145 employees, GFL can offer our customers more services in more locations than ever before. This acquisition aligns with our strategy to be a “one stop shop” to meet the liquid and solid waste needs of our customers and we are pleased to welcome the Tri-Line and Deuce employees to GFL.”
About Contrans Group Inc.
Contrans has been providing freight transportation services as a publicly-listed company since 1985. With approximately 1,400 power units and 2,600 trailers under management, Contrans is one of the largest freight transportation companies in Canada.
GFL Environmental Inc. is a diversified environmental services company providing a comprehensive line up of solid waste, soil remediation, and liquid waste services. Through a national platform that spans 5 provinces, GFL serves approximately 12,100 commercial and industrial customers and approximately 888,000 households under municipal solid waste contracts. With the addition of Tri-Line and Deuce’s employees, GFL has a workforce of almost 1,500 employees.
SOURCE GFL Environmental
For further information:
Contrans Group Inc.
Stan G. Dunford
GFL Environmental Inc.
Photo courtesy of GFL Environmental Inc