Apollo Global Management and BC Partners have acquired GFL Environmental Inc.'s Environmental Services business for CAD 8 billion, enabling GFL to optimize its capital structure while retaining a 44% equity stake.

Overview of the Deal

On January 17, 2025, GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) announced a significant transaction involving the sale of its Environmental Services business to funds managed by Apollo Global Management (NYSE: APO) and BC Partners, with an enterprise value of CAD 8 billion. This strategic divestiture enables GFL to enhance its capital structure by significantly reducing its debt while retaining a 44% equity stake in the business. The acquisition represents a major entry point into the rapidly growing waste management and environmental services sector for Apollo and BC Partners, presenting substantial growth potential. The deal is structured to capitalize on the expertise of the private equity firms while benefiting from GFL's extensive operational knowledge in the environmental services landscape.

Furthermore, the agreement includes a notable provision that allows GFL the option to repurchase the Environmental Services business within five years, offering strategic flexibility for future business decisions.

Company Overview: Target - GFL Environmental Inc.

GFL Environmental Inc. is a leading Canadian waste management firm based in Vaughan, Ontario. Established in 2007, the company provides a broad spectrum of environmental services, including solid waste collection, recycling, and soil remediation across Canada and the