PE-backed GFL Environmental buys Smithrite and Carney's

GFL Environmental Inc has acquired Smithrite Disposal and Carney's Waste Systems, both solid waste service providers operating in British Columbia. No financial terms were released. GFL, a Toronto-based environmental services company, said the deal will extend its existing solid and liquid waste operations in the province. Gordon Smith, president of Smithrite and Carney's and son of the original founders, will remain to continue building the combined entity. GFL, which is reportedly planning a 2018 initial public offering, is backed by HPS Investment Partners, Macquarie Group and Hawthorn Equity Partners.

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