“I credit a lot of foundational knowledge to Concordia and particularly the Kenneth Woods Portfolio Management Program.”
On the cusp of becoming a partner at the Canadian division of the multinational KPMG accounting firm, Luke Pelosi joined GFL Environmental Inc. as director of mergers and acquisitions for the $400-million waste-management company.
Today, he is executive vice president and chief financial officer of a growing $5-billion company, covering nine Canadian provinces and 27 U.S. states with more than 150 acquisitions since GFL’s founding. Pelosi says his goal is nothing less than remaining the pre-eminent acquirer in the North American waste-management industry.
“We show up to work every day because we like the challenge,” he says. “I think we’re building something unique in Canada and in North America. There's been a massive amount of growth. Acquisitions have been part of our playbook and that’s something we'll continue to focus on.”
Career satisfaction
“Building a company that I see grow year after year.
“We do about 30 acquisitions a year that vary in size from $1 million of purchase price to upwards of $1 billion.”
Lesson from the M&A playbook
“Sometimes a bigger acquisition is actually less work because it’s a very sophisticated seller, and they have advisors and other folks who can make the whole process quite organized.”
Biggest changes in the industry
“Waste management in North America used to be very much predicated on the old model of collecting the trash at the curb and putting it into a landfill. GFL didn't have a lot of landfill capacity early on, so we become leaders in diversion initiatives, and today we are one of the largest organic food waste processors and recyclers in Canada.”
Reflections on his career
“I think I've been very successful in my career, which spans finance, corporate finance, operational roles, acquisitions and integration. I credit a lot of that foundational knowledge to Concordia and particularly the Kenneth Woods Portfolio Management Program.”
Influential person at Concordia
“I remember very fondly those more casual conversations with Abraham Brodt about the importance of finding something you love doing and applying yourself with the skills that you have.”