Simpson Thacher represented GFL Environmental Inc. (“GFL”) in connection with a $1 billion senior secured Term Loan B (the “TLB”). The borrowings under the TLB were used, together with cash on hand and other sources of funds, to finance GFL’s acquisition (the “Acquisition”) of SECURE Waste Infrastructure (“Secure”). Simpson Thacher previously represented GFL in connection with a fully committed bridge financing for purposes of financing the Acquisition.
GFL is the fourth largest diversified environmental services company in North America, providing comprehensive solid waste management services from its platform of facilities throughout Canada and 19 U.S. states. GFL has a workforce of more than 17,000 employees across its organization.
Secure operates a large scale, diversified waste management platform in Western Canada and North Dakota through its vertically integrated network of assets across over 80 locations, including 12 landfills, 55 waste treatment facilities, 12 recycling facilities, 98 injection wells and 5 transfer stations. Secure’s operations are supported by a proven management team and over 2,000 employees.
The Simpson Thacher team included Eli Isak, Adam Moss, Abdul Fasinro, Roey Vardi, Khalia Williams and Connor Milos Hasson (Credit); Ryan Bekkerus, Ben Carson, Max Totsky, Deane Ciampa and Claire Fennelly (Capital Markets); Michael Mann and Benjamin Bressler (Tax); George Gerstein and Christopher Torikoglu (Executive Compensation & Employee Benefits); Courtney Welshimer (Intellectual Property); and Tim Gallagher (Real Estate).