Dive Brief:
GFL Environmental announced an agreement late Monday to acquire Canadian company Terrapure Environmental s Solid Waste and Environmental Solutions business, excluding its battery recycling operations, for $927.5 million. Pending regulatory approval, the deal could close by the third or fourth quarter.
Terrapure reported $365 million in revenue last year, amid effects of the pandemic, and offers a range of solid waste and liquid waste services. The relevant division currently services more than 7,000 customers, with an estimated 1,600 employees and more than 500 collection vehicles.
In addition to solidifying GFL s Canadian presence, executives consider the deal attractive because it includes the Stoney Creek industrial landfill near Toronto. That site, permitted for up to 750,000 metric tons per year, recently received approval for a vertical expansion expected to add 14 years to its lifespan.
Monday s analyst upgrades and downgrades - The Globe and Mail
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Superior has acquired five propane businesses in the past six months.
Superior Plus Corp. delivered on a two-year-old promise to focus the company on propane distribution on Thursday by selling its chemical business for $725-million to private equity fund manager Birch Hill Equity Partners.
Toronto-based Superior put its chemical division up for sale the spring of 2019 as part of a strategic decision to focus on the propane industry. The company acquired the business, which sells industrial chemicals used in pulp and paper and water treatment, in 2002 for $375-million. At the time of the purchase, Superior faced challenges from Canada’s competition regulator over plans to expand its domestic propane business. The
Market movers: Stocks that saw action on Thursday - and why Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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A roundup of some of the North American equities making moves in both directions today
On the rise
Superior Plus Corp. (SPB-T) gained ground with the premarket announcement thtait has entered into an agreement with Birch Hill Equity Partners, a privately held Toronto firm, for the sale of its Specialty Chemicals business for total consideration of $725-million
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