GFL and American Waste Announce Merger

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Jan 10, 2020, 07:00 ET

TORONTO and KALKASKA, MI, Jan. 10, 2020 /PRNewswire/ - GFL Environmental Inc. ("GFL") and American Waste announced today 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.

Founded in 1971 as Northern A -1 by their father, Edward Ascione Sr., 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 and will continue to manage the American Waste businesses.

Patrick Dovigi, GFL's Founder and CEO said: "The strong family and entrepreneurial values that have been the key to American Waste's success align with GFL's core values and strategy. American Waste and Northern A-1 have a committed, passionate employee base that bring 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."

Eddie Ascione said: "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. 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."

About GFL Environmental Inc.

GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities across Canada and in 23 states in the United States. Across its organization, GFL has a workforce of more than 11,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.

Forward-Looking Information

This release may contain forward-looking information including but not limited to the proposed acquisition, integration and strategic fit of American Waste with GFL's existing operations, the benefits of the acquisition, including future growth and GFL's performance and service offerings following completion of the acquisition. Such forward-looking information is based on certain assumptions and analysis made by GFL in light of its experience and perception of current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to GFL's expectations and predictions is subject to market conditions and a number of known and unknown risks and uncertainties which could cause actual results to differ materially from GFL's expectations. GFL undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

SOURCE GFL Environmental Inc.