GFL Environmental has struck a deal to acquire Secure Waste Infrastructure Corp. in a transaction valued at about $6.4 billion, significantly expanding its footprint across Western Canada’s waste and energy infrastructure sector.
The agreement will see GFL pay $24.75 per Secure share, representing a 23% premium to the company’s 60-day volume-weighted average price. The consideration will be made up of roughly 80% GFL shares and 20% cash.
The acquisition gives GFL access to a large network of waste management infrastructure across Western Canada and North Dakota, including dozens of treatment and recycling facilities, landfills and injection wells. Secure operates more than 80 facilities and employs over 2,000 people.
It also runs a fleet of specialized trucks tied to its oilfield waste business, feeding its network of treatment and disposal assets.
GFL founder and CEO Patrick Dovigi said the deal strengthens the company’s ability to capture more waste streams across the value chain while deepening its presence in key western markets.
“The acquisition of Secure will provide us with a highly complementary network of permitted waste processing and disposal assets that will densify our footprint in Western Canada, significantly enhance our scale and expand our ability to offer customers a full suite of waste management services,” he said in a release.
Secure president and CEO Allen Gransch said the combination brings together “hard to replicate infrastructure” with GFL’s broader platform, positioning the combined company for further growth.
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