GFL to Acquire County Waste of Virginia

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Dec 10, 2019, 10:40 ET

VAUGHAN, ON, Dec. 10, 2019 /PRNewswire/ - GFL Environmental Inc. ("GFL") announced today that it has entered into a definitive agreement to acquire County Waste of Virginia, LLC and its subsidiaries (collectively, "County Waste"). The transaction, which is expected to close in January 2020, is subject to receipt of customary regulatory approvals, including approval under the Hart-Scott-Rodino Act.

County Waste offers solid waste management services, including collection, transportation, transfer, recycling and disposal of non-hazardous solid waste for municipal, residential and commercial and industrial customers in Virginia and Eastern Pennsylvania. County Waste's collection and hauling operations utilize a fleet of over 410 trucks that service over 410,000 residential customers and 19,000 commercial customers. County Waste owns six transfer stations and one material recovery facility and operates a landfill in Troutville, Virginia.

"The addition of County Waste's operations to GFL's existing solid waste business creates an opportunity for us to further expand our eastern U.S. footprint into new markets," said Patrick Dovigi, GFL's Founder and Chief Executive Officer. "County Waste's management team, led by Scott Earl, brings over 50 years of industry experience to GFL and under Scott's leadership, County Waste has grown revenues to over US$180 million. We are excited to have Scott join GFL as an employee as well as a shareholder and we look forward to welcoming Scott and the other employees of County Waste to the GFL team."

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 County Waste with GFL's existing operations, the benefits of the acquisition, including cross-selling opportunities and 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. Because forward-looking statements are related to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. 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.