Casella Waste Systems Acquires Recycling Operations Of GFL Environmental For $525M
Portfolio Pulse from Shivani Kumaresan
Casella Waste Systems, Inc (NASDAQ:CWST) has completed the acquisition of the Pennsylvania, Delaware, and Maryland collection, transfer, and recycling operations of GFL Environmental Inc. (NYSE:GFL) for approximately $525 million. The deal was funded through a new $430 million term loan and proceeds from an equity offering. The acquisition is expected to generate annualized revenues of about $185 million and boost Casella's growth opportunities.
July 03, 2023 | 3:44 pm
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POSITIVE IMPACT
Casella Waste Systems has acquired recycling operations of GFL Environmental, which is expected to generate $185M in annual revenues and boost growth opportunities.
The acquisition is a significant move for Casella Waste Systems as it expands their operations and opens up new growth opportunities. This could potentially increase their annual revenues and hence, positively impact their stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
GFL Environmental's recycling operations in Pennsylvania, Delaware, and Maryland have been acquired by Casella Waste Systems.
The sale of GFL Environmental's recycling operations could potentially reduce their operational scope and revenues, which might negatively impact their stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80