Toronto-based Canada Fibers Ltd. (CFL), a provider of material recovery and recycling services, is acquiring the issued and outstanding common shares of Ontario, Canada-based HGC Management Inc. This acquisition, which is expected to close within 60 days, will expand CFL’s operations in Ontario.
“This acquisition will enable us to provide province-wide sorting services for our expanding commercial and municipal customer bases, which is increasingly important as customers look for greater uniformity and efficiency from their recycling programs,” said Mark Badger of Canada Fibers in a statement. “It will provide us with more recovered material for our downstream operations, which recycle recovered materials into consumer and industrial products.”
In addition to acquiring the issued and outstanding common shares of HGC, CFL will take over HGC’s seven material recovery facilities (MRFs) within the Province of Ontario and its fleet of 75 trucks.
“The combined MRF footprint of the organizations will enable province-wide programs for customers seeking enhanced efficiency and sustainability,” said Herb Lambacher, founder of HGC, in a statement. “I look forward to working with CFL to advance sorting technologies.”