Canadian Equipment Rentals Corp. Sells Waste Management Division for $12 Million

Canadian Equipment Rentals Corp. announced it has entered into an agreement with GFL Environmental Inc. to sell 100 percent of its subsidiary MCL Waste Systems & Environmental for $12 million in cash.
Nov. 18, 2016
CERC sells its Waste Management division to focus on equipment rental its core business
CERC sells its Waste Management division to focus on equipment rental, its core business.

Canadian Equipment Rentals Corp. announced it has entered into an agreement with GFL Environmental Inc. to sell 100 percent of its subsidiary MCL Waste Systems & Environmental for $12 million in cash.

The transaction, expected to close around the beginning of December is subject to approval by the TSX Venture Exchange and customary closing conditions. PillarFour Capital Inc. is acting as exclusive financial advisor to CERC.

“This transaction advances our strategy of focusing on our core rentals divisions,” said CERC president Austin Fraser. “The cash proceeds from the sale will be used to reduce bank indebtedness and provide us with greater financial 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.”

Canadian Equipment Rentals Corp. is a Canadian public corporation with three operating divisions: Energy Services, General Rentals and Waste Management. The company has decades of experience in general rentals through its Edmonton, Alberta-based 4-Way Equipment Rentals. It has branches into waste management and energy rental services in recent years. Formerly known as Canadian Equipment Rental Fund, CERC is No. 74 on the RER 100.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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