GFL Environmental buys Superior Waste Industries

Red Dog Equity LLC, an Atlanta-based private equity firm that invests in lower middle-market companies poised for strong growth, has sold Superior Waste Industries LLC of Shawnee, Oklahoma, to GFL Environmental Inc. in an all-cash transaction.

Billy Dietrich established Superior Waste, an environmental services holding company, in March 2022 with an investment from Red Dog Equity to acquire Central Disposal, a Shawnee, Oklahoma-based integrated solid waste management company founded by Mike Adcock. The company also purchased Harley Hollan later that year, establishing its footprint in the Tulsa, Oklahoma, market, and Sue’s Recycling and Sanitation in 2024, which extended Superior’s reach into Vian and Eufaula, Oklahoma. The company also purchased SDS Roll-off Dumpsters in Shawnee that year.

Dietrich told Waste Today previously that he was approached by many private equity firms about running businesses but was “fairly picky” about who he wanted to work with, ultimately selecting Red Dog Equity,

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“We couldn’t be more pleased with the outcome of our partnership with Billy Dietrich and the teams at Superior Waste and its subsidiaries,” says Toby Chambers, co-managing partner at Red Dog Equity. “Investing in partnership with an outstanding entrepreneur, what we call a ‘Red Dog,’ focusing on people, systems and processes, and being disciplined acquirers were the keys to the successful outcome here.”

Chambers adds, “We’ve known Patrick Dovigi, the founder and CEO of GFL, for over 15 years and are confident GFL will take excellent care of Superior’s team and customers.”

“We’re grateful to Billy [Dietrich], the Adcock family, all those on Superior’s teams who came to work every day to provide service to their communities and our investor partners at TPO [the Pritzker Organization] and Monroe [Capital],” says Tom Connolly, co-managing partner of Red Dog Equity. “We’re very proud of the company Billy built at Superior Waste and the outcome we were able to achieve for our investors.”

Billy Dietrich, founder and CEO of Superior Waste, says, “Building a solid waste business like Superior has been a dream of mine for as long as I can remember, and Red Dog was the perfect partner for me. They supported me every step of the way.”

Stifel acted as the exclusive financial advisor to Superior Waste on this transaction.