Simpson Thacher is representing GFL Environmental Inc. (“GFL”) in connection with its entry into a definitive agreement to acquire Waste Industries in a transaction that values Waste Industries at a total enterprise value of $2.825 billion. The transaction, which is expected to close in the fourth quarter of 2018, is subject to customary regulatory approvals.
When combined, GFL and Waste Industries will become the largest privately owned environmental services company in North America with operations in all Canadian provinces except Prince Edward Island and in nine states in the United States. The combined company will operate 98 collection operations, 59 transfer stations, 29 material recovery facilities, 10 organics facilities and 47 landfills.
In May 2018, Simpson Thacher represented a consortium led by affiliates of BC Partners and including affiliates of Ontario Teachers’ Pension Plan and others in its recapitalization of GFL.
The Simpson Thacher team includes Anthony Vernace, Mark Viera and Ethan Kim (M&A); Jennifer Hobbs and Eli Isak (Banking & Credit); Ryan Bekkerus and Lisa Zhang (Capital Markets); Greg Grogan, Jamin Koslowe and Aria Mahboubi (ECEB); Gary Mandel, Drew Purcell, Sophie Staples and Pierce Pandolph (Tax); Adeeb Fadil and Noreen Lavan (Environmental); Jason Glover and Amin Ebrahim (Funds); Marcela Robledo (IP); Dennis Loiacono (Real Estate); Peter Guryan, Kelly Karapetyan, Kenneth Ehrhard and Joshua Hazan (Antitrust); and Jonathan Lindabury (Derivatives).