Casella Waste Systems, Inc. announced that it completed the acquisition of the Pennsylvania, Delaware, and Maryland collection, transfer, and recycling operations of GFL Environmental Inc. on June 30, 2023. The purchase price of the acquisition was approximately $525 million and was funded through a combination of the company’s new $430 million Term Loan A under its existing senior secured credit facility and proceeds from the Company’s recent equity offering.
The acquisition includes nine hauling operations, one transfer station, and one material recovery facility, and is expected to generate aggregate annualized revenues of approximately $185 million. Further, the acquisition provides strong strategic and financial benefits that are expected to augment Casella’s growth opportunities through an expansion into adjacent markets with solid waste operations that have similar attributes to its existing operations.
“This is an exciting step forward in our company’s growth strategy as we extend our footprint into the Mid-Atlantic with a new platform for future growth,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “We are focused on ensuring a successful integration of these operations, providing excellent service to our new customers and communities, and welcoming our new employees to our team.”