Canadian Equipment Rentals completed the sale of 100% of the issued and outstanding shares of its wholly-owned subsidiary, MCL Waste Systems & Environmental, to GFL Environmental.

Gross cash proceeds from the transaction will be approximately $12.0 million. Net proceeds after transaction costs and post-closing adjustments will be applied against CER’s senior indebtedness.

Canadian Equipment Rentals is a Canadian public corporation with two operating divisions: energy services and general rentals. The energy services division is engaged in the rental of surface equipment and accommodations to the Western Canadian oil and gas industry and the general rentals division is engaged in the rental of industrial and construction equipment.

GFL, headquartered in Toronto, is a diversified environmental services company offering services in solid waste management, liquid waste management and soil remediation.