---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-111833"
form_type: "8-K"
ticker: "CWST"
cik: "0000911177"
company_name: "CASELLA WASTE SYSTEMS INC"
filed_at: "2023-04-24T23:59:59+00:00"
generated_at: "2026-06-16T20:50:55.300973+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Casella Waste to acquire GFL Environmental solid waste ops for $525M; expects $43M EBITDA

## Summary
- Purchase price $525M cash; includes 9 hauling ops, 1 transfer station, 1 MRF with ~$185M annualized revenues.
- Expected first-12-month EBITDA of $43M; year-3 synergies of $8M; >$130M cash tax benefits estimated.
- Expands footprint into Mid-Atlantic (PA, DE, MD); ~80% of revenues from commercial and residential collection.
- Financing via cash, revolver, planned Term Loan A; bridge commitment up to $375M; no financing condition.
- Expected to close Q3 2023, subject to regulatory approvals and customary conditions.

## SEC filing metadata
- accession: 0001193125-23-111833
- form_type: 8-K
- ticker: CWST
- cik: 0000911177
- company_name: CASELLA WASTE SYSTEMS INC
- filed_at: 2023-04-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/911177/000119312523111833/0001193125-23-111833-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/911177/000119312523111833/d479988d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-111833
- JSON: https://secwatch.observer/filing/0001193125-23-111833.json
- Plain text: https://secwatch.observer/filing/0001193125-23-111833.txt

## Key facts
- Material Agreements
  CASELLA WASTE SYSTEMS INC entered into Equity Purchase Agreement with GFL Environmental Inc., GFL (CW) Holdco, LLC and Waste Industries USA, LLC valued at approximately $525 million in cash (effective 2023-04-21).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: GFL Environmental Inc., GFL (CW) Holdco, LLC and Waste Industries USA, LLC
  - Value: approximately $525 million in cash
  - Effective: 2023-04-21
  source text: On April 21, 2023, Casella Waste Systems, Inc. (the “Registrant” or the “Company”) and its wholly-owned subsidiary Casella Mid-Atlantic, LLC (the “Buyer”) entered into an Equity Purchase Agreement (the “Purchase Agreement”) with GFL Environmental Inc. (the “Seller Parent”), GFL (CW) Holdco, LLC (“Holdco”) and Waste Industries USA, LLC (“Waste Industries USA”, and together with Holdco, the “Sellers”), pursuant to which the Buyer agreed to acquire 100% of the equity interests in Waste Industries of Maryland, LLC (“Waste Industries Maryland”) and its wholly-owned subsidiary Pink Trash Company, Inc. (“Pink Trash Company”), Waste Industries of Delaware, LLC (“Waste Industries Delaware”), Waste Industries of Pennsylvania, LLC (“Waste Industries Pennsylvania”) and County Waste of Pennsylvania, LLC (“County Waste Pennsylvania” and collectively with Waste Industries Maryland, Pink Trash Company, Waste Industries Delaware and Waste Industries Pennsylvania, the “Target Companies”) from Sellers fo
  evidence_url: https://www.sec.gov/Archives/edgar/data/911177/000119312523111833/0001193125-23-111833-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.