GFL Environmental to merge with U.S. company Waste Industries in deal valued at $3.65 billion

GFL Environmental to merge with U.S. company Waste Industries in deal valued at $3.65 billion

Toronto-based GFL Environmental Inc. has signed a deal to merge with Waste Industries in an agreement that values the U.S. company at about $3.65 billion.

The deal will more than double GFL’s footprint in the United States.

Waste Industries provides non-hazardous solid waste collection, transfer, recycling and disposal services in the southeastern United States.

It has more than 2,850 employees and operations in North Carolina, South Carolina, Georgia, Colorado, Tennessee, Virginia, Maryland, Pennsylvania and Delaware.

GFL, which is privately owned, has operations across Canada and in Michigan.

Its principal shareholders include BC Partners and the Ontario Teachers’ Pension Plan.

[Source: Financial Post]
More info: GFL press release