GFL to acquire American Waste

GFL to acquire American Waste

The $380 million deal continues GFL’s recent string of M&A activity.

Subscribe
January 10, 2020

GFL Environmental Inc., Ontario, Canada, and American Waste, Kalkaska, Michigan, announced Jan. 10 that they have entered into a definitive agreement for the acquisition by GFL of American Waste's solid and liquid waste businesses in Michigan and Pennsylvania. The closing of the transaction is subject to customary regulatory approvals and is expected to be completed in February 2020. 

According to The Star, the deal is for $380 million—$360 million in cash and $20 million in non-voting shares.  

Founded in 1971 as Northern A-1 by Edward Ascione Sr., Edward’s sons Michael and Edward Ascione have since grown American Waste and Northern A-1 to be a leading vertically integrated provider of environmental solutions for a broad base of solid and liquid waste customers. Michael and Edward Ascione will be joining GFL following the acquisition and will continue to manage the American Waste businesses.

“The strong family and entrepreneurial values that have been the key to American Waste's success align with GFL's core values and strategy,” Patrick Dovigi, founder and CEO of GFL, says. "American Waste and Northern A-1 have a committed, passionate employee base that brings the same level of commitment to service excellence for our customers as do GFL's employees. We are confident that this common commitment will make the integration of our service offerings seamless and allow us to continue to grow, to serve our customers and to provide opportunities for our employees. We are excited to have Mike and Eddie and all of the employees of American Waste and Northern A-1 join the GFL team."  

"Mike and I carefully chose to merge with GFL because of our similar lines of business, GFL's down-to-earth senior management team and decentralized operations approach,” Eddie Ascione says. “We are confident that the strategic fit with GFL represents a great opportunity for our company and our employees to accelerate to the next chapter of growth, while maintaining the values we share with GFL reflecting our commitment to our employees, safety and our customers.  We believe American and Northern A-1's expertise in serving both our solid and liquid waste customers is a great fit with GFL's focus on delivering comprehensive environmental solutions. Mike and I are excited to be able to continue to lead American Waste and Northern A-1 into the future with GFL."