BC Partners and OTPP-backed GFL to acquire Canada Fibers
GFL Environmental Inc has agreed to acquire Canada Fibers Ltd, a Toronto-based operator of facilities for the recovery and processing of recyclable materials. Terms weren't released for the deal, which is expected to close in Q3 2019. Established in 1990, Canada Fibers provides its services primarily to Ontario municipalities and institutional, commercial and industrial customers. GFL, a Toronto-based waste management company, said the acquisition will create new opportunities to provide integrated collection, sorting, processing and marketing of recyclable materials. Last year, GFL was recapitalized by an investor group led by BC Partners, Ontario Teachers’ Pension Plan (OTPP) and others. The transaction valued the business at $5.1 billion.
