Casella Waste Systems, Inc. a regional solid waste, recycling, and resource management services company, has completed the acquisition of the Pennsylvania, Delaware, and Maryland collection, transfer, and recycling operations of GFL Environmental Inc. on June 30, 2023. The purchase price of the acquisition was approximately $525 million and was funded through a combination of the company’s new $430 million Term Loan A under its existing senior secured credit facility and proceeds from the Company’s recent equity offering.
The acquisition includes nine hauling operations, one transfer station, and one material recovery facility, and is expected to generate aggregate annualized revenues of approximately $185 million. Further, the acquisition provides strong strategic and financial benefits that are expected to augment Casella’s growth opportunities through an expansion into adjacent markets with solid waste operations that have similar attributes to its existing operations.
