PE-backed GFL to buy TransForce's solid waste unit for $800 mln
GFL Environmental Inc has agreed to acquire Matrec Services Inc, a solid waste business owned by Canadian trucking and logistics provider TransForce Inc (TSX: TFI). The deal, expected to close in early 2016, is priced at $800 million and will be funded in part by the issue of GFL shares to TransForce. Vaughan, Ontario-based GFL said the acquisition will make it one of the largest independent waste management companies in Canada and will facilitate its entry into Québec and Eastern Ontario. Backed by Hawthorn Equity Partners and Highbridge Principal Strategies, the company bought a group of Ontario-focused excavation and demolition businesses in July.
30 October 2015•4 mins read
