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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]
SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation into Fairness of Bridge Investment Group Holdings Inc. (NYSE: BRDG) Buyout and Encourages Investors to Contact the Firm
Prnewswire· 2025-03-03 13:01
Core Viewpoint - Kaskela Law LLC is investigating the fairness of the buyout of Bridge Investment Group Holdings Inc. by Apollo, focusing on whether shareholders are receiving adequate compensation and if there were any breaches of fiduciary duties by the company's officers or directors [1][3]. Summary by Sections - **Acquisition Announcement**: On February 24, 2025, Bridge announced its agreement to be acquired by Apollo in a stock-for-stock transaction, where shareholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock, valued at $11.50 per share [2]. - **Investigation Purpose**: The investigation aims to assess if Bridge's shareholders are receiving sufficient consideration for their shares and to evaluate potential breaches of fiduciary duties or violations of securities laws by the company's management in the sale process [3]. - **Investor Contact Information**: Bridge shareholders are encouraged to reach out to Kaskela Law LLC for more information regarding the investigation and their legal rights [4].
Apollo to Present at the 2025 RBC Financial Services Conference
Globenewswire· 2025-03-03 11:30
Core Insights - Apollo Global Management is participating in a keynote panel discussion on private markets at the RBC Financial Services Conference on March 5, 2025 [1] - The event will be available via live webcast and a replay will be accessible shortly after [1] Company Overview - Apollo is a high-growth global alternative asset manager with approximately $751 billion in assets under management as of December 31, 2024 [2] - The company aims to provide clients with excess returns across the risk-reward spectrum, from investment grade credit to private equity [2] - Apollo's retirement services business, Athene, focuses on financial security through retirement savings products and solutions for institutions [2] - The company's investment approach is characterized as patient, creative, and knowledgeable, aligning interests among clients, businesses, employees, and communities [2]
Apollo Names Shimpei Kanzaki as Japan Global Wealth Head
Globenewswire· 2025-03-02 23:00
Core Insights - Apollo has appointed Shimpei Kanzaki as Managing Director and Head of Japan Global Wealth, bringing over 20 years of experience in alternative investments and wealth management [1][2] - The company aims to expand its presence in Japan following successful growth in Hong Kong and Singapore, focusing on building partnerships with local distributors [2] - Apollo's investment philosophy emphasizes investor alignment and aims to provide clients with access to private market strategies, which offer potential excess returns and diversification benefits [2][3] Company Overview - Apollo is a high-growth global alternative asset manager with approximately $751 billion in assets under management as of December 31, 2024 [3] - The firm specializes in providing excess returns across the risk-reward spectrum, from investment-grade credit to private equity [3] - Apollo's retirement services business, Athene, focuses on helping clients achieve financial security through a suite of retirement savings products [3]