BGL Advises GFL Environmental on Divestiture of Non-Core Assets

Rhea-AI Summary

Brown Gibbons Lang & Company (BGL) has announced the divestiture of three solid waste operations of GFL Environmental Inc. for an 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, while the divestiture of its Pennsylvania, Maryland, and Delaware operations is scheduled to close on June 30, 2023.

Positive

• The divestiture of GFL's solid waste operations represents an enterprise value of approximately C$1.6 billion.
• BGL's Environmental & Industrial Services investment banking team served as financial advisor to GFL in each of the three transactions.
• GFL Environmental Inc. is the fourth-largest diversified environmental services company in North America with a workforce of more than 20,000 employees.

Negative

• None.

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

FAQ

What is the enterprise value of the divestiture?

The divestiture represents an enterprise value of approximately C$1.6 billion.

Who served as financial advisor to GFL in the transactions?

BGL's Environmental & Industrial Services investment banking team served as financial advisor to GFL in each of the three transactions.

How many employees does GFL have?

GFL has a workforce of more than 20,000 employees.