Toronto-based GFL Environmental Inc. (NYSE: GFL), a leading North American provider of diversified environmental solutions, raised $1.4 billion in its IPO in March. And now the company has its eye on acquisition opportunities over the next three to six months, in the wake of the coronavirus pandemic.
GFL’s first major acquisition closed in September 2008, amid a recession. “We will never let a good crisis go to waste,” noted by Patrick Dovigi, founder and chief executive officer. The company has more than $920 million to spend on potential opportunities in the coming months.
Over the first four months of the year, GFL’s commercial and industrial revenue was down 15% in Canada and 5% in the U.S., but “since the third week of April, the decline has reversed into an incline,” said Dovigi.
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