Ontario-based GFL Environmental has signed an agreement to acquire Canada Fibers and its affiliates for an undisclosed sum.
Image: GFL Environmental has agreed to acquire recycling processor Canada Fibers. Photo: courtesy of Adam Radosavljevic from Pixabay.
Based in Toronto, Canada Fibers manages material recovery facilities for the recovery and processing of recyclable materials.
The company offers recycling processing services to municipalities across Ontario, including the City of Toronto via its technologically advanced single stream Arrow Road facility in Toronto. It also serves institutional, commercial and industrial customers.
Canada Fibers has also secured contract to design, construct and operate an advanced single-stream material recovery facility in Winnipeg, Manitoba. The facility is expected to be operational in the fourth quarter of this year.
Subject to customary regulatory approvals, the deal is expected to be completed in the third quarter of this year.
GFL founder and CEO Patrick Dovigi said: “Given the current state of commodity markets, we believe that now is the right time for GFL to acquire Canada Fibers, with its long established relationships with recyclable material buyers and its expertise in operating single stream material recovery facilities.
“The addition of Canada Fibers’ operations to GFL’s existing collection networks will create new opportunities to provide integrated collection, sorting, processing and marketing of recyclable materials.
“Canada Fibers is led by an experienced management team including Joe Miranda, who has over 40 years of industry experience, and we are excited to have Joe and the employees of Canada Fibers join the GFL team.”
Based in Vaughan of Ontario, GFL is a diversified environmental services firm that offers a comprehensive line of non-hazardous solid waste management, infrastructure and soil remediation and liquid waste management services.
The company, established in 2007 by Canadian entrepreneur and businessman Patrick Dovigi, operates a platform of facilities across Canada, in addition to the 20 states of the US.
With more than 9,500 employees across the organisation, GFL offers a range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to over four million households.