GFL Environmental and Waste Industries Merger

Connector Fall 2018

GFL Environmental Inc. (“GFL”) based out of Toronto, and Raleigh, North Carolina-based Waste Industries have announced that they have entered into a definitive merger agreement in a transaction that values Waste Industries at a total enterprise value of approximately C$3.65 billion. The transaction, which is expected to close in the fourth quarter of 2018, is subject to customary regulatory approvals.

Following its recapitalization completed in May 2018 with a consortium led by affiliates of BC Partners (“BC Partners”) and including affiliates of Ontario Teachers’ Pension Plan (“Ontario Teachers'”) and others, GFL is one of the largest environmental services companies in North America.

Since its founding by the Poole family in 1970, Waste Industries has grown to become the premier independent, vertically integrated solid waste management company in the Southeastern United States.

When combined with GFL’s existing solid waste operations, GFL and Waste Industries will become the largest privately owned environmental services company in North America with operations in all Canadian provinces except Prince Edward Island and in 10 states in the United States. The combined company will operate 98 collection operations, 59 transfer stations, 29 material recovery facilities, 10 organics facilities and 47 landfills, and will have more than 8,850 employees. Patrick Dovigi will continue to be the President and CEO of the combined company.

Source: Recycling Product News