Toronto-based waste management firm pushing east with big-ticket acquisition
TORONTO—Waste management company, GFL Environmental Inc., is making a major move into Eastern Ontario and Quebec. The company has agreed to buy TransForce Inc.’s Matrec solid waste division for $800 million.
“This transaction solidifies GFL’s position as a leader in the Canadian environmental services industry by expanding our solid waste operations into Eastern Ontario and Quebec.” Patrick Dovigi, GFL’s founder and CEO, said
The Toronto-based firm said the deal will form a strong foundation for the company to continue its growth strategy. Meanwhile, the addition of Matrec’s landfill, transfer station and recycling centre operations, as well as its proximity to the Ottawa market will allow GFL an opportunity to internalize existing waste streams, the company said.
Following the acquisition, GFL will secure its place as one of the largest independent waste management companies in Canada, employing 2,700 workers, and serving more than 1.7 million households across every Canadian province except P.E.I.
The deal is subject to customary conditions and is expected to close by February of next year.