MCL Waste Systems & Environmental Inc., a wholly-owned subsidiary of Canadian Equipment Rentals Corp., is being sold to GFL Environmental Inc. for $12 million.
"This transaction advances our strategy of focusing on our core rentals divisions," said Austin Fraser, president of CERC. "The cash proceeds from the sale will be used to reduce bank indebtedness and provide us with greater flexibility through the prolonged oil and gas downturn. MCL is a solid business and we are pleased that our employees will be joining a best-in-class environmental services provider in GFL."
For more about Canadian Equipment Rental Corp.'s sale of its waste management division...
