NOVACAP Announces Agreement to Sell Enviro-Viridis to GFL Environmental
NOVACAP, a Canadian leader in private equity, and Developpement EDB Inc. have reached an agreement to sell Enviro-Viridis Inc., a company specializing in waste management that offers vertically integrated services, and its subsidiary corporations (CDEV).
They will be acquired by GFL Environmental Inc., a diversified environmental services company providing a full range of environmental services nationwide.
CDEV is a portfolio company of the NOVACAP Industries III fund and the transaction is scheduled to close on March 1, 2016, subject to customary closing conditions.
“From our acquisition of Camille Fontaine & Fils in 2009 and the numerous add-on acquisitions that followed, NOVACAP, along with the management team, have built Enviro-Viridis into a major player in the environmental sector in Québec”, said Domenic Mancini, Senior Partner at NOVACAP. “Now it is time for Enviro-Viridis to stand on its own in the Canadian market, and the transaction with GFL Environmental will contribute to make that happen.”