GFL closes $800 mln Matrec deal with help from private equity investors
GFL Environmental Inc has closed its previously announced acquisition of Matrec Services Inc, the solid waste unit of TransForce Inc (TSX: TFI), for $800 million. GFL said the deal creates a major Canadian environmental services company valued at about $2.4 billion, and will facilitate the company's entry into the Québec market and Eastern Ontario. The acquisition was funded in part by $458 million in equity from Macquarie Infrastructure and Real Assets and an investor group led by Highbridge Principal Strategies, an existing GFL backer. Funding was also provided by a US$300 million private offering of senior unsecured notes. GFL is also backed by Hawthorn Equity Partners.
1 February 2016•4 mins read
