GFL Environmental Inc. (GFL,GFL.TO) Thursday announced that Green Infrastructure Partners has reached a deal with funds managed by Energy Capital Partners, LLC to recapitalize its business at an enterprise value of $4.25 billion.
GIP is a vertically integrated infrastructure company established in 2022 by GFL, funds managed by HPS Investment Partners Inc. and Patrick Dovigi.
On the closing of the transaction, GIP will receive aggregate gross proceeds of $775.0 million, of which it intends to return approximately $585.0 million to its shareholders and apply $175.0 million to its balance sheet to fund future growth.
GFL will receive approximately $200.0 million of the $585.0 million shareholder distribution.
After the distribution to GFL of approximately $200.0 million, GFL will own an approximate 30.1% interest in GIP valued at approximately $895.0 million. HPS and Mr. Dovigi will each also continue to hold a minority stake in GIP and support the company's future growth. The transaction is expected to close on or about September 2, 2025.
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