GFL Environmental and investors led by BC Partners, including Ontario Teachers’ Pension Plan and others, jointly announced their agreement to recapitalize GFL Environmental Holdings Inc. The transaction implies a total GFL enterprise value of approximately C$5.125 billion ($3.99 billion), making GFL one of the largest environmental services companies in North America.
In connection with the transaction, Patrick Dovigi, founder and CEO, will maintain his role and leadership of GFL, as well as significant ownership in the company, while the investors will acquire the interests of current partners including funds managed or associated with HPS Investment Partners, Macquarie Infrastructure Partners III and Hawthorn Equity Partners.
GFL provides services in solid waste management, liquid waste management and infrastructure management. Through its network of more than 140 facilities across Canada and in Michigan, GFL provides cost-effective waste management solutions that encourage greater environmental responsibility.
The transaction is expected to close by June 30, 2018.
