GFL Environmental Inc. (TSX:GFL) entered into a definitive agreement to acquire solid waste and environmental solutions business from Terrapure Environmental Ltd. for approximately CAD 930 million on March 15, 2021. The transaction will exclude the battery recycling business carried on by Terrapure. As part of the acquisition, GFL will acquire the Stoney Creek landfill. GFL currently anticipates funding the acquisition using a combination of capacity under its revolving credit facility, cash on hand and incremental financing. Terrapure’s business to be acquired generated revenue of approximately CAD 365 million in 2020, inclusive of COVID related volume impacts. As a result of the transaction, almost 1,600 employees of Terrapure will be joining the GFL family later in 2021. The transaction is subject to certain customary closing conditions, including clearance under the Competition Act (Canada) and regulatory approval. The transaction is not subject to any financing conditions. The closing is expected to occur in the third or fourth quarter of 2021. As of May 6, 2021 the transaction is expected to close in the second half of 2021. On July 28, 2021, GFL assumes the closing of the acquisition on October 1, 2021. GFL expects to generate at least CAD 45 million of adjusted free cash flow and at least CAD 12.5 million in annual cost synergies. Terrapure’s strategically located network of assets coupled with its strong operating margins are expected to be immediately accretive to free cash flow. Scotiabank, Inc. acted as financial advisor to Terrapure Environmental Ltd. GFL Environmental Inc. (TSX:GFL) completed the acquisition of solid waste and environmental solutions business from Terrapure Environmental Ltd on August 17, 2021.