GFL Environmental Continues Its Growth with Two New Acquisitions
2016 continues to be a busy year for Ontario-based Green For Life Environmental Inc. (GFL) http://gflenv.com/ , an environmental services company formed in 2007 by founder and Chief Executive Officer, Patrick Dovigi (https://about.me/patrickdovigi) , and now operating coast-to-coast in every province in Canada except Prince Edward Island.
Established with the goal of providing one-stop-shop environmental solutions to commercial, industrial, and institutional customers across Canada, GFL is the only major Canadian diversified environmental services firm to provide services in solid waste management, soil remediation and liquid waste management. Not to mention, the company also now provides solid waste collection to close to 2 million households across Canada. http://www.theglobeandmail.com/report-on-business/rob-magazine/business-is-picking-up-at-garbage-upstart-green-for-life/article22759312/
Having expanded its network of hauling, transfer, landfill and materials recovery facilities over the years, GFL’s solid waste division now collects and disposes of or recycles solid non-hazardous waste for commercial, institutional and residential customers throughout Canada.
GFL also offers a growing list of soil remediation operations. Along with excavating, transporting, remediating and disposing of contaminated and remediated soils, GFL operates a collection of soil remediation facilities that can remediate soils contaminated with hydrocarbons and sodium from commercial properties, infrastructure projects, among other properties.
GFL’s growth has been both ambitious and impressive; and part of the company’s growth strategy lies in its well-timed acquisitions of other niche operators in the Canadian environmental services sector.
Most recently, GFL announced its acquisition of two new Canadian environmental solutions firms, one being Enviro-Viridis, which GFL has acquired from private equity firm, NOVACAP; the other being Ontario’s Detox Environmental Ltd., a firm specializing in liquid waste services.
Strategically, acquiring Enviro-Viridis, a company that services waste and recycling collection needs in Quebec, doubles down on GFL’s entry into the Quebec and Eastern Ontario markets. Meanwhile, Detox Environmental, a company that offers hazardous and non-hazardous liquid waste transportation, processing and disposal, will neatly supplement GFL’s already wide range of liquid waste services.
GFL has made an impressive 49 acquisitions since the company’s founding — that’s a number that’s been increased by these two new purchases and will undoubtedly continue to grow.
“Our overarching goal with our [GFL’s] acquisitions remains fundamentally centered around our customers.” This from GFL CEO, Patrick Dovigi. “We want GFL to have the ability to provide truly comprehensive environmental solutions to commercial, institutional and residential customers, coast-to-coast across Canada. Acquisitions are one driver in meeting this goal.” http://patrickdovigi.brandyourself.com/
GFL’s most significant acquisition to date took place in February this year when the company closed on its purchase of Services Matrec Inc. (Matrec), a solid waste business in Quebec and Eastern Ontario and formerly owned by TransForce Inc. https://www.pehub.com/canada/2016/2/private-equity-investors-pour-458-mln-into-gfls-acquisition-of-matrec/
The acquisition carried with it a number of noteworthy distinctions. For one, it marked GFL’s entrance into the Quebec and Eastern Ontario markets. Perhaps more notably, GFL’s acquisition of Matrec was Canada’s first large-cap private equity deal of 2016. Not to mention, that it increased GFL’s enterprise value to roughly $2.4 billion and increased the company’s total staff, which now sits at 3,200 employees. http://newswire.net/newsroom/pr/00092095-toronto-s-gfl-behind-canada-s-first-large-cap-private-equity-deal-of-2016.html
Prior to acquiring Matrec, in January this year, GFL also purchased Anchor Shoring Group to expand its soil remediation, excavation and demolition capabilities to include anchoring, shoring, piling, drilling and caisson work.
Patrick Dovigi has commented several times that GFL’s goal is to double the size of its business over the next five years. If GFL’s ambitious growth this year is any indication of the company’s future, that will be an attainable goal.
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