CADILLAC — The parent company that owns the Wexford County Landfill has entered into an agreement to be sold to a Canadian environmental company.
Recently, American Waste and GFL Environmental Inc. entered into the “definitive‘ agreement for the solid and liquid waste businesses in both Michigan and Pennsylvania. The closing of the transaction is subject to customary regulatory approvals and is expected to be completed in February, according to a press release issued by GFL.
The Canadian company will purchase American Waste for $380 million, involving $360 million in cash and $20 million in non-voting GFL shares.
On Monday, Wexford County Administrator Janet Koch said she sent emails out to county commissioners informing them of the sale and preliminarily there should be no impact on the county. However, Koch said she will be talking with the county’s legal counsel as well as with American Waste to make sure.
Founded in 1971 as Northern A-1 by their father, Edward Ascione Sr., Michael and Edward Ascione have grown American Waste and Northern A-1 to be a leading provider of environmental solutions for a broad base of solid and liquid waste customers. Michael and Edward Ascione will be joining GFL and will continue to manage the American Waste businesses.
“Mike and I carefully chose to merge with GFL because of our similar lines of business, GFL’s down to earth senior management team and decentralized operations approach,‘ Edward Ascione said in a press release. “We are confident that the strategic fit with GFL represents a great opportunity for our company and our employees to accelerate to the next chapter of growth while maintaining the values we share with GFL reflecting our commitment to our employees, safety and our customers.‘
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure, and soil remediation and liquid waste management services through its platform of facilities across Canada and in 23 states in the United States.
“The strong family and entrepreneurial values that have been the key to American Waste’s success align with GFL’s core values and strategy. American Waste and Northern A-1 have a committed, passionate employee base that bring the same level of commitment to service excellence for our customers as do GFL’s employees,‘ Patrick Dovigi, GFL’s Founder and CEO, said in a press release. “We are confident that this common commitment will make the integration of our service offerings seamless and allow us to continue to grow, to serve our customers and to provide opportunities for our employees.‘