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GFL Environmental Inc. Resumes Share Repurchase Program
Prnewswire· 2025-04-24 10:45
Core Points - GFL Environmental Inc. has received approval from the Toronto Stock Exchange to resume its normal course issuer bid (NCIB) [1] - The company can repurchase up to 28,046,256 subordinate voting shares during the 12-month period ending March 2, 2026 [2] - GFL has already repurchased 7,618,758 subordinate voting shares under the NCIB, leaving 20,427,498 shares available for repurchase [3] Company Overview - GFL is the fourth largest diversified environmental services company in North America, providing solid waste management services across Canada and 18 U.S. states [4] - The company employs over 15,000 individuals [4]
GFL Environmental Inc. Sets Date for Q1 2025 Earnings Release
Prnewswire· 2025-04-01 10:45
Core Points - GFL Environmental Inc. will release its 2025 first quarter financial results on April 30, 2025, after market close [1] - An investor conference call will be held on May 1, 2025, at 8:30 am Eastern Time to discuss the financial results [1] - The company is the fourth largest diversified environmental services provider in North America, with over 15,000 employees [4] Company Information - GFL is headquartered in Vaughan, Ontario, and offers a comprehensive range of solid waste management services across Canada and in 18 U.S. states [4] - The company emphasizes the importance of pre-registration for the conference call to streamline access for participants [3] - A live audio webcast of the conference call will be available on the company's Investors page [2]
GFL Environmental Inc. Announces Closing of Secondary Offering by Selling Shareholders
Prnewswire· 2025-03-31 21:02
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management services through its platform of facilities throughout Canada and in 18 U.S. states. Across its organization, GFL has a workforce of more than 15,000 employees. For more information: About GFL VAUGHAN, ON, March 31, 2025 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL" or the "Company") today announced the closi ...
GFL Environmental Inc. Announces Direct Share Buyback of 17,050,298 Subordinate Voting Shares from BC Partners and Intention to Repurchase up to 7,056,027 Subordinate Voting Shares in Secondary Offering
Prnewswire· 2025-03-25 20:53
Core Viewpoint - GFL Environmental Inc. has announced significant share repurchase transactions, including the purchase of over 17 million subordinate voting shares from BC Partners and an agreement to buy up to 7 million shares from RBC Dominion Securities, as part of a strategy to utilize proceeds from the sale of its Environmental Services business [1][2][3]. Share Repurchase Transaction - The company purchased 17,050,298 subordinate voting shares at a net price of US$46.92 per share, which is approximately 3.5% lower than the closing price on March 25, 2025 [1]. - The Selling Shareholder will retain about 20.5% of the issued subordinate voting shares after the transaction, equating to approximately 14.8% of the voting power [4]. Secondary Offering Transaction - GFL has agreed to purchase up to 7,056,027 subordinate voting shares from RBC Dominion Securities as part of a secondary offering of 15,739,769 shares [2]. - This secondary offering involves multiple stakeholders, including the Ontario Teachers' Pension Plan Board and HPS Investment Partners [2]. Financial Strategy - The transactions align with GFL's plan to use around $2.25 billion from the sale of its Environmental Services business to repurchase shares opportunistically, depending on market conditions [3]. - The company received exemptive relief from the Ontario Securities Commission, allowing it to repurchase up to 50% of shares offered in any secondary offering over the next 12 months, with a maximum of 38,157,045 shares [5]. Governance and Advisory - The board of directors unanimously approved the transactions based on a recommendation from a special committee of independent directors [4]. - Canaccord Genuity Corp was retained as a financial advisor for these transactions [4]. Company Overview - GFL Environmental Inc. is the fourth largest diversified environmental services company in North America, providing solid waste management services across Canada and 18 U.S. states, with a workforce exceeding 15,000 employees [6].
GFL Environmental Inc. Obtains Exemptive Relief from Issuer Bid Requirements
Prnewswire· 2025-03-14 21:00
Core Viewpoint - GFL Environmental Inc. has received exemptive relief from the Ontario Securities Commission, allowing the company to repurchase subordinate voting shares from underwriters in Ontario as part of a secondary offering [1][3]. Group 1: Share Repurchase Details - GFL plans to use approximately $2.25 billion from the sale of its Environmental Services business to repurchase shares, depending on market conditions [2]. - The Order allows GFL to purchase up to 50% of the shares initially offered for resale in any secondary offering over the next 12 months, with a maximum of 38,157,045 shares, which is 10% of its current issued and outstanding shares [3]. - A special committee of independent directors will oversee the share repurchases to ensure they are in the best interests of the company, and all purchases will occur at a discount to the closing price on the date of the offering announcement [3]. Group 2: Company Overview - GFL Environmental Inc. is headquartered in Vaughan, Ontario, and is the fourth largest diversified environmental services company in North America, providing solid waste management services across Canada and in 18 U.S. states [5]. - The company employs over 15,000 individuals across its operations [5].
BGL Announces the Sale of GFL's Environmental Services Business Valued at $8 Billion
Prnewswire· 2025-03-03 20:07
Core Insights - GFL Environmental Inc. has sold its Environmental Services business to Apollo Funds and BC Partners for an enterprise value of $8 billion, allowing GFL to pursue organic growth and solid waste M&A opportunities [1][3][4] Company Overview - GFL is the fourth-largest diversified environmental services company in North America, providing solid waste management services across Canada and more than half of the U.S. states, with a workforce of over 15,000 employees [5] Financial Implications - GFL plans to use the proceeds from the sale to repay debt, with up to $2.25 billion allocated for share repurchases, subject to market conditions, and the remainder for transaction fees and general corporate purposes [6] - The transaction enables GFL to accelerate its balance sheet deleveraging towards investment grade levels and return capital to shareholders through share repurchases and future dividend increases [6] Equity Interests - Following the transaction, GFL will retain a 44% equity interest in the Environmental Services business, while Apollo Funds and BC Partners will each hold a 28% equity interest [7] Industry Position - BGL's Environmental Services & Infrastructure investment banking team has been ranked 1 in Environmental Services transaction volume in North America since 2016, focusing on essential services in waste processing, water treatment, and waste-to-energy markets [8]
BGL Announces the Sale of GFL's Environmental Services Business Valued at $8 Billion
Prnewswire· 2025-03-03 20:07
Core Insights - GFL Environmental Inc. has sold its Environmental Services business to Apollo Funds and BC Partners for an enterprise value of $8 billion, allowing GFL to pursue organic growth and solid waste M&A opportunities [1][3][5] Company Overview - GFL is the fourth-largest diversified environmental services company in North America, providing solid waste management services across Canada and more than half of the U.S. states, with a workforce of over 15,000 employees [4] Financial Implications - GFL plans to use the proceeds from the sale to repay debt, with up to $2.25 billion allocated for share repurchases, subject to market conditions, and the remainder for transaction fees and general corporate purposes [5] - The transaction will enable GFL to accelerate its balance sheet deleveraging towards investment grade levels and return capital to shareholders through share repurchases and future dividend increases [5] Ownership Structure Post-Transaction - Following the transaction, GFL will retain a 44% equity interest in the Environmental Services business, while Apollo Funds and BC Partners will each hold a 28% equity interest [6]
GFL Environmental Inc. Completes the Sale of its Environmental Services Business Valued at $8.0 Billion
Prnewswire· 2025-03-03 11:45
Core Viewpoint - GFL Environmental Inc. has successfully completed the sale of its Environmental Services business for an enterprise value of $8.0 billion, retaining a $1.7 billion equity interest in the business [1]. Financial Summary - GFL plans to utilize up to $3.75 billion of the net proceeds from the transaction to repay debt, with up to $2.25 billion allocated for share repurchases, depending on market conditions, and the remaining funds for transaction fees and general corporate purposes [2]. Company Overview - GFL is headquartered in Vaughan, Ontario, and is recognized as the fourth largest diversified environmental services company in North America, providing solid waste management services across Canada and in over half of the U.S. states, employing more than 15,000 individuals [3].
GFL(GFL) - 2024 Q4 - Annual Report
2025-02-27 11:38
Exhibit 99.1 Execution Version FIFTH AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT FIFTH AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT (this "Amendment"), dated as of June 4, 2024 by and among GFL ENVIRONMENTAL INC., a corporation existing under the laws of Ontario, Canada (the "Canadian Borrower"), GFL ENVIRONMENTAL USA INC., a corporation existing under the laws of Delaware (the "US Borrower"), the Guarantors party hereto, BANK OF MONTREAL, as administrative agent (in such capaci ...
GFL Environmental Inc. Announces Commencement of Share Repurchase Program
Prnewswire· 2025-02-27 11:30
Core Viewpoint - GFL Environmental Inc. has announced its intention to commence a normal course issuer bid (NCIB) for subordinate voting shares, with a maximum repurchase of 28,046,256 shares over a 12-month period starting March 3, 2025 [1][2][3] Group 1: NCIB Details - The NCIB will be conducted through the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE), allowing for repurchases through various trading systems [1] - GFL has 381,570,455 subordinate voting shares outstanding as of February 18, 2025, and the repurchase represents 10% of the public float [2] - All repurchased shares will be cancelled, and purchases may include open market transactions and privately negotiated transactions [3][5] Group 2: Financial Context - GFL plans to allocate up to $2.25 billion from the sale of its Environmental Services businesses to fund the share repurchase [3] - The company expects to use the majority of these proceeds for purchasing shares held by sponsor shareholders, with the remainder for open market purchases [3] Group 3: Regulatory Considerations - GFL has received exemptive relief from the Ontario Securities Commission, allowing it to purchase up to 10% of its public float through U.S. trading platforms without the usual 5% limit [4] - The company may also acquire shares through privately negotiated transactions at a discount to the market price, subject to regulatory exemptions [5] Group 4: Historical Context - In the previous NCIB period from May 12, 2023, to May 11, 2024, GFL was authorized to repurchase 17,867,120 subordinate voting shares, but no shares were repurchased during that time [6] Group 5: Company Overview - GFL is the fourth largest diversified environmental services company in North America, providing solid waste management, liquid waste management, and soil remediation services [7] - The company employs over 20,000 individuals across its operations [7]