Mergers and Acquisitions

Investors led by BC Partners and Ontario Teachers' Pension Plan in the $5.125 billion recapitalization of GFL Environmental Inc.

Investors led by BC Partners and Ontario Teachers’ Pension Plan
Key Contact
Shahir Guindi, Ad. E.

Former National Co-Chair, Partner, Corporate, Montréal

Team
John Groenewegen

Partner, Corporate, Toronto

Hugo-Pierre Gagnon

Partner, Corporate, Montréal

Lynne Lacoursière

Partner, Corporate, Toronto

Jennifer Fairfax

Partner, Litigation; Regulatory, Indigenous and Environmental, Toronto

Firoz Ahmed

Partner, Tax, Toronto

Matias Milet

Partner, Tax, Toronto

Damian Rigolo

Partner, Employment and Labour, Toronto

Etienne Massicotte

Partner, Financial Services, Montréal

On April 22, 2018, GFL Environmental Inc. and investors led by BC Partners and Ontario Teachers’ Pension Plan jointly announced their agreement to recapitalize GFL Environmental Holdings Inc. The transaction implies a total GFL enterprise value of approximately $5.125 billion, making GFL one of the largest environmental services companies in North America. It is expected to close by June 30, 2018.

GFL Environmental Inc. is a Canadian diversified environmental services company that provides a comprehensive line of solid waste, infrastructure & soil remediation, and liquid waste management services.

BC Partners is a UK-based leading international investment firm with over €17 billion of assets under management in private equity and private credit.

Ontario Teachers’ Pension Plan, headquartered in Toronto, is Canada’s largest single-profession pension plan and holds a diverse global portfolio of assets.

Osler, Hoskin & Harcourt LLP represented the investors led by BC Partners and Ontario Teachers’ Pension Plan with a team led by Shahir Guindi and John Groenewegen (Corporate), consisting of Hugo-Pierre Gagnon, Michael Budabin McQuown, Courtney Ashton, Lynne Lacoursière and Blake Binions (Corporate), Jennifer Fairfax and Patrick Welsh (Environmental), Adrian Hartog (Real Estate), Firoz Ahmed and Matias Milet (Tax), Damian Rigolo (Employment and Labour), Etienne Massicotte (Financial Services), and Shelley Obal (Research).

Value
$5.125 billion
Date Closed
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Lead Office
Montréal
Key Contact
Shahir Guindi, Ad. E.

Former National Co-Chair, Partner, Corporate, Montréal

Team
John Groenewegen

Partner, Corporate, Toronto

Hugo-Pierre Gagnon

Partner, Corporate, Montréal

Lynne Lacoursière

Partner, Corporate, Toronto

Jennifer Fairfax

Partner, Litigation; Regulatory, Indigenous and Environmental, Toronto

Firoz Ahmed

Partner, Tax, Toronto

Matias Milet

Partner, Tax, Toronto

Damian Rigolo

Partner, Employment and Labour, Toronto

Etienne Massicotte

Partner, Financial Services, Montréal