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.