WOODSTOCK, ON—Contrans Group Inc. has entered into a definitive agreement to sell its wholly owned subsidiaries Tri-Line Disposal Inc. and Deuce Disposal Ltd. to GFL Environmental Inc. Tri-Line Disposal Inc. and Deuce Disposal Ltd. are waste collection companies with operations in Edmonton and Slave Lake, Alberta respectively. The transaction is scheduled to close on May 1, 2014 and is subject to a number of conditions.
“GFL approached us and informed us that they were very interested in acquiring our waste collection business,” said Contrans Group Inc.’s Chairman and Chief Executive Officer Stan Dunford. “They are a growing company looking for an established and significant solid waste market presence in Alberta. After undertaking a strategic review, we decided that it would be in Contrans’s shareholders’ best interests to take this opportunity to unlock the equity that the Company has established in its waste collection segment and to focus on our core business of freight transportation. We are deeply grateful for the efforts and dedication of the employees at Tri-Line Disposal and Deuce and wish them all the best in their future endeavours.”
Patrick Dovigi, GFL’s President and CEO said “By joining forces with Tri-Line and Deuce with operations in Edmonton and Slave Lake, Alberta along with its experienced and committed workforce of 145 employees, GFL can offer our customers more services in more locations than ever before. This acquisition aligns with our strategy to be a “one stop shop” to meet the liquid and solid waste needs of our customers and we are pleased to welcome the Tri-Line and Deuce employees to GFL.”