GFL Environmental Inc. (“GFL”) recently announced that it has entered into a definitive agreement to acquire Canada Fibers Ltd.
Based in Toronto, Canada, Canada Fibers is an operator of material recovery facilities for the recovery and processing of recyclable materials for more than 28 years. Canada Fibers provides recycling processing services to municipalities across Ontario, including the City of Toronto at its Arrow Road facility in Toronto, and to its institutional, commercial and industrial customers. Canada Fibers has also been awarded the contract to design, build and operate an advanced single-stream material recovery facility in Winnipeg, Manitoba, which will commence operations in the fourth quarter of 2019.
“Given the current state of commodity markets, we believe that now is the right time for GFL to acquire Canada Fibers, with its long established relationships with recyclable material buyers and its expertise in operating single stream material recovery facilities,” said Patrick Dovigi, GFL’s Founder and Chief Executive Officer.
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities across Canada and in 20 states in the United States. Across its organization, GFL has a workforce of more than 9,500 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
The terms of the agreement were not disclosed. The transaction, which is expected to close in the third quarter of 2019, is subject to customary regulatory approvals.
