General Newsroom Hero 1920x480 (4:1)
Our Work

Latham & Watkins Advises HPS Investment Partners in Convertible Preferred Financing of GFL Environmental’s Acquisition of WCA Waste Corporation

August 14, 2020
A corporate and tax team represented HPS Investment Partners in the financing.

GFL Environmental Inc., a leading North American diversified environmental services company, has announced that it has entered into a definitive agreement with an affiliate of Macquarie Infrastructure Partners II to purchase WCA Waste Corporation and its subsidiaries for an aggregate purchase price of US$1.212 billion. The purchase price for the acquisition will be financed in part with the net proceeds of a private placement of US$600 million of convertible preferred shares and the balance through a combination of cash on hand and capacity under the company's revolving credit facility.

Latham & Watkins LLP represented HPS Investment Partners in the financing with a corporate team led by New York partners Stelios Saffos and Peter Sluka, with associates Andrew Blumenthal and Patrick Maguire. Advice was also provided on tax matters by New York partner Jocelyn Noll.