Waste management company GFL to buy competitor Terrapure

GFL Environmental announced that it has entered into a definitive agreement to acquire the solid waste and environmental solutions business of Terrapure Environmental and its subsidiaries for 927.5 million dollar. The Acquisition will exclude the battery recycling business.

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 365 million in 2020, inclusive of COVID related volume impacts.  

The Acquisition is subject to certain customary closing conditions, including clearance under the Competition Act (Canada). The Acquisition is not subject to any financing conditions. Closing is expected to occur in the third or fourth quarter of 2021.