Divestiture of the three distinct non-core
U.S. solid waste regions represents an enterprise value of
approximately C$1.6 billion
CLEVELAND, June 14,
2023 /PRNewswire/ -- Brown Gibbons Lang &
Company (BGL) is pleased to announce the divestiture of three
distinct solid waste operations of GFL Environmental Inc. (NYSE:
GFL) (TSX: GFL), the fourth-largest diversified environmental
services company in North America,
for an aggregate enterprise value of approximately C$1.6 billion. The divestiture of GFL's
Colorado and New Mexico solid waste operations and
Nashville, TN operations have been
completed in two separate transactions; the divestiture of its
Pennsylvania, Maryland, and Delaware operations has received clearance
from the U.S. Department of Justice and is scheduled to close on
June 30, 2023.
BGL's Environmental & Industrial
Services investment banking team served as financial advisor to
GFL.
BGL's Environmental & Industrial Services investment banking
team served as financial advisor to GFL in each of the three
transactions.
Headquartered in Vaughan,
Ontario, GFL Environmental, Inc. (GFL) is a leading North
American diversified environmental services company providing a
comprehensive line of solid waste management, liquid waste
management, and soil remediation services through its platform of
facilities throughout Canada and
more than half of the United
States. Across its organization, GFL has a workforce of more
than 20,000 employees.
BGL's Environmental & Industrial Services (EIS) investment
banking team has been a leader in the North American market in
Environmental Services transaction volume for more than eight
years, according to PitchBook.com. Our EIS team focuses on
businesses that perform essential services to the commercial,
industrial, infrastructure, power and energy, and municipal
markets. The team has executed numerous transactions related to a
broad range of industrial and environmental investments and have
developed significant expertise in many subsectors, including
sustainability, waste and recycling, environmental and industrial
field services, infrastructure services, and commercial
services.
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, valuations and opinions,
and other strategic matters. BGL has investment banking
offices in Chicago, Cleveland, New York, and Los Angeles, and real estate offices in
Chicago and Cleveland. The firm is also a founding member
of Global M&A Partners, enabling BGL to service clients in more
than 35 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