GFL Environmental, Ontario, Canada, announced on Aug. 12 that it had entered into a definitive agreement with Macquarie Infrastructure and Real Assets (MIRA), New York, via Macquarie Infrastructure Partners II (MIP II) to purchase WCA Waste Corp. and its subsidiaries for an aggregate purchase price of $1.2 billion. Thanks to receipt of Department of Justice (DOJ) approval, one of the conditions to the closing of the acquisition, GFL announced Sept. 29 that it expects to close the acquisition on Oct. 1.
"We are pleased to achieve yet another major milestone in our history and are excited to be welcoming our new WCA employees to the GFL family on Oct. 1," GFL founder and CEO Patrick Dovigi says. "This transaction, together with the acquisition of the divestiture assets resulting from the Waste Management Inc. and Advanced Disposal Services Inc. merger, provide us with attractive opportunities to expand our geographic footprint into the United States.”
“We still expect to close the purchase of the Waste Management Inc. and Advanced Disposal Services Inc. divesture assets early in the fourth quarter," Dovigi continues. "Looking ahead, we remain focused on creating long-term shareholder value, including through operational excellence, superior customer service, accretive acquisitions and investing in innovative and sustainable solutions."
WCA operates a vertically integrated network of solid waste assets, including 37 collection and hauling operations, 27 transfer stations, three material recovery facilities and 22 landfills supported by over 1,000 collection vehicles, across 11 U.S. states. WCA has a regional platform with a growing footprint across the Midwest and Southeast, including three key markets in Texas, Missouri and Florida.