GFL Environmental Inc., a leading North American diversified environmental services company, announced that it has entered into a definitive agreement to acquire the solid waste and environmental solutions business of Terrapure Environmental Ltd. and its subsidiaries for an aggregate purchase price of C$927.5 million. The Acquisition will exclude the battery recycling business carried on by Terrapure.
Terrapure is an integrated provider of solid and liquid waste management and industrial services to more than 7,000 customers across Canada. Terrapure’s environmental and organics solutions cover a diverse range of waste streams from generation through collection, processing, recovery, recycling, reuse and disposal through its integrated network of assets including its landfill and its liquid and solid waste collection and processing facilities. Terrapure’s operations are supported by a fleet of over 500 collection vehicles and approximately 1,600 employees.
Terrapure’s operations to be acquired in the Acquisition generated revenue of approximately C$365 millionin 2020, inclusive of COVID related volume impacts. “The acquisition of Terrapure is another example of GFL delivering on our commitment to pursue strategic and accretive acquisitions to continue growing our business”, said Patrick Dovigi, Founder and Chief Executive Officer of GFL. “Terrapure’s assets are highly complementary to our existing solid and liquid waste footprint inCanada. All of their service offerings are currently provided by GFL resulting in expected integration and cross-selling opportunities, as well as the expansion of our operations into new regions.” Mr. Dovigi continued, “The timing of this acquisition, which we expect to close in the third or fourth quarter of this year, fits perfectly with our current schedule for completing the integration of our late 2020 acquisitions in the second quarter of 2021, ahead of our previous expectations.” Mr. Dovigi concluded, “We are excited about the opportunities that lie ahead with this acquisition and look forward to welcoming the almost 1,600 employees of Terrapure to the GFL family later this year.”