Latham & Watkins Advises GFL Environmental Inc. and Certain Selling Shareholders in US$594 Million Secondary Offering of Subordinate Voting Shares

Firm represented the environmental services company and certain selling shareholders in the offering.

April 13, 2021

GFL Environmental Inc., the fourth largest diversified environmental services company in North America, has announced that certain entities affiliated with BC Partners Advisors L.P., Ontario Teachers' Pension Plan Board, GIC Private Limited and HPS Investment Partners, LLC (collectively, the Selling Shareholders), have entered into an agreement with BMO Capital Markets, RBC Capital Markets, and Scotiabank (collectively, the Underwriters), pursuant to which the Underwriters have agreed to purchase on a bought deal basis an aggregate of 17,500,000 subordinate voting shares held by the Selling Shareholders at an offering price of US$33.95 per Share for total gross proceeds to the Selling Shareholders of US$594,125,000. GFL will not receive any proceeds from the Offering.

Latham & Watkins LLP represents GFL Environmental Inc. and certain Selling Shareholders in the offering with a corporate team led by New York partners Stelios Saffos and Peter Sluka and Washington, D.C. partner Paul Dudek, with New York associates Hana Nah, Claire Solimine, and Matt Schlanger. Advice was also provided on tax matters by New York partner Matthew Dewitz, with New York associate Colleen O’Donnell.

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