PE-backed GFL to raise $250 mln in private offering for Matrec buy

GFL Escrow Corp, an affiliate of GFL Environmental Inc, plans to commence a private offering of at least US$250 million in senior unsecured notes. GFL, a diversified environmental services provider, said the net proceeds of the offering, along with other borrowings and the proceeds of an equity financing, will be used in part to fund its buy of solid waste business Matrec Services Inc. The company announced last October that it would acquire Matrec from TransForce Inc for about $800 million. Vaughan, Ontario-based GFL is backed by Highbridge Principal Strategies and Hawthorn Equity Partners. Earlier this month, it bought Anchor Shoring Group.

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