VAUGHAN, ON, Aug. 17, 2021 /CNW/ - GFL Environmental Inc.
(NYSE: GFL) (TSX: GFL) ("GFL"), a leading North American
diversified environmental services company, today announced that it
has closed the previously announced acquisition of the solid waste
and environmental solutions business of Terrapure Environmental
Ltd. and its subsidiaries (collectively, "Terrapure"). The
acquisition excludes the battery recycling business carried on by
Terrapure.
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"The acquisition of Terrapure is another example of GFL
delivering on our commitment to pursue strategic and accretive
acquisitions to continue growing our business," said
Patrick Dovigi, Founder and Chief
Executive Officer of GFL. "Terrapure brings a high-quality,
complementary network of assets and customer base to our existing
solid and liquid waste operations and expands our service offerings
in several regional markets. This strategically located network of
assets and Terrapure's strong operating margins are expected to be
immediately accretive to free cash flow and provide opportunities
for us to continue to pursue our growth strategy." Mr. Dovigi
concluded, "We are excited to welcome the over 1,600 Terrapure
employees to the GFL family."
About GFL
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 throughout
Canada and in 27 states in
the United States. Across its
organization, GFL has a workforce of more than 15,000. For more
information, visit www.gflenv.com. To subscribe for investor email
alerts please visit https://investors.gflenv.com or click here.
Forward-Looking Statements
This release includes certain "forward-looking statements". In
some cases, but not necessarily in all cases, forward-looking
statements can be identified by the use of forward looking
terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking statements. Forward-looking
statements are not historical facts, nor guarantees or assurances
of future performance but instead represent management's current
beliefs, expectations, estimates and projections regarding future
events and operating performance. Forward-looking statements are
necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by GFL as of the date
of this release, are subject to inherent uncertainties, risks and
changes in circumstances that may differ materially from those
contemplated by the forward-looking statements.
Important factors that could cause actual results to differ,
possibly materially, from those indicated by the forward-looking
statements include, but are not limited to, the "Risk Factors"
section of the Company's annual report for the 2020 fiscal year
filed on Form 20-F and the Company's other periodic filings with
the SEC and the securities commissions or similar regulatory
authorities in Canada. These
factors are not intended to represent a complete list of the
factors that could affect GFL. However, such risk factors should be
considered carefully. There can be no assurance that such estimates
and assumptions will prove to be correct. You should not place
undue reliance on forward-looking statements, which speak only as
of the date of this release. GFL undertakes no obligation to
publicly update any forward-looking statement, except as required
by applicable securities laws.
Investor Relations Contact:
Patrick Dovigi
Founder and CEO
905-326-0101
pdovigi@gflenv.com
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SOURCE GFL Environmental Inc.