Dive Brief:

• Patrick Dovigi launched a waste management firm in 2007. His startup, Green for Life Environmental, Inc. (GFL), is now one of the fastest growing waste companies in Canada.
• The company recently received a new round of funding from Wall Street investors, and the hauler now has a valuation of $950 million.
• The success of the company rests on two ideas conceived by Dovigi: tap the hidden market of small haulers and acquire them, and offer bundled services.

Dive Insight:

GFL succeeded by acquiring smaller firms, which attracted more capital. In 2010, the company nabbed a $105 million investment from Roark Capital. In 2013, an additional $200 million was raised through five-year unsecured notes. 

GFL catapulted into the public eye when it scored a contract worth $186 million to haul waste in Toronto for 155,000 customers. The deal was struck in August 2012 and is slated to last for nine years. 

Waste Connections, Inc., another waste management company, has implemented a similar strategy, focusing on smaller markets that were virtually ignored by the heavyweights. This has proven to be effective for the company, as it has elevated itself to be a key player within the solid waste industry. Waste Connections generally services rural communities and forged its path to the top using this strategy. It has become the third largest waste firm in the U.S., and is positioning itself to continue increasing its profitability.