The transaction will allow GFL to pursue
organic growth initiatives and solid waste M&A
opportunities
CLEVELAND, March 3,
2025 /PRNewswire/ -- Brown Gibbons Lang &
Company (BGL), a leading independent investment bank and financial
advisory firm, is pleased to announce GFL Environmental Inc. (NYSE:
GFL) (GFL), the fourth-largest diversified environmental services
company in North America, has sold
its Environmental Services business to funds managed by affiliates
of Apollo (NYSE: APO) (Apollo Funds) and BC Partners (BC Funds) for
an enterprise value of $8 billion.
BGL's Environmental investment banking team served as GFL's
financial advisor in the transaction.
BGL's Environmental investment banking team
served as GFL's financial advisor in the transaction.
Headquartered in Vaughan,
Ontario, GFL is the fourth largest diversified
environmental services company in North
America, providing solid waste management services through
its platform of facilities across Canada and in more than half of the U.S.
states. Across its organization, GFL has a workforce of more than
15,000 employees.
GFL expects to use the proceeds from the sale to repay debt,
making available up to $2.25 billion
for the repurchase of GFL shares, subject to market conditions, and
the balance for transaction fees and general corporate purposes.
The sale allows GFL to accelerate its balance sheet deleveraging
with a path to investment grade levels, deploy incremental capital
across organic growth initiatives and solid waste M&A, and
return of capital to shareholders through share repurchases and
future dividend increases.
Pursuant to the transaction agreement, GFL will retain a 44%
equity interest in the Environmental Services business, and the
Apollo Funds and BC Funds will each hold a 28% equity interest.
BGL's Environmental Services & Infrastructure investment
banking team has been ranked #1 in Environmental Services
transaction volume in North
America since 2016, according to Pitchbook.com. Our
Environmental team focuses on businesses that perform essential
services to the waste processing & disposal, water &
wastewater treatment, waste-to-value, and waste-to-energy
markets.
All financial information is in Canadian dollars unless
otherwise noted.
About Brown Gibbons Lang & Company
Brown Gibbons
Lang & Company (BGL) is a leading independent investment bank
and financial advisory firm focused on the global middle market.
The firm advises private and public corporations and private equity
groups on mergers and acquisitions, capital
markets, financial restructurings, business valuations
and opinions, and other strategic matters. BGL has
investment banking offices in Boston, Chicago, Cleveland, Los
Angeles, and New York, and
real estate offices in Chicago,
Cleveland, and San Antonio. The firm is also a founding
member of REACH Cross-Border Mergers & Acquisitions, enabling
BGL to service clients in more than 30 countries around the world.
Securities transactions are conducted through Brown, Gibbons, Lang
& Company Securities, LLC, an affiliate of Brown Gibbons Lang
& Company LLC and a registered broker-dealer and member of
FINRA and SIPC. For more information, please visit
www.bglco.com.
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SOURCE Brown Gibbons Lang & Company