GFL Environmental Inc. agreed to acquire Secure Waste Infrastructure Corp. for approximately C$6.4 billion ($4.6 billion). The total valuation includes the assumption of debt. GFL will fund the transaction using 80% stock and 20% cash.
The deal significantly expands GFL's presence in Western Canada. This move marks a major push into industrial and energy-related waste services. GFL gains a complementary network of waste processing and disposal assets.
Secure Waste operates more than 80 facilities across Western Canada and North Dakota. The asset portfolio includes landfills, waste treatment plants, and recycling facilities. These operations focus specifically on the energy and industrial sectors.
Management expects the deal to be immediately accretive to free cash flow per share. The transaction is scheduled to close in the second half of 2026. Completion depends on receiving shareholder and regulatory approvals.