Roark Capital invests in Canadian waste company
Roark Capital Group is seeing green in a Canadian waste management and recycling company.
The Atlanta-based private equity firm, better known for its portfolio of restaurants, such as Schlotzsky’s and Moe’s Southwest Grill, announced Tuesday it invested $58.5 million in GFL Waste & Recycling Solutions Corp., and will commit an additional $43.8 million for expansion and possible acquisitions, the company said in a news release.
The deal with GFL is Roark’s second major investment in a waste management business, following its October 2009 investment of $100 million in Waste Pro.
GFL, based in Pickering, Ontario, operates solid waste transfer facilities, liquid waste collection and treatment stations and performs soil remediation. Roark President Jeffrey J. Keenan, a veteran of the solid waste industry, will be on GFL’s board.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
