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Latham Represents GFL Environmental Inc. and HPS Investment Partners and Other Certain Selling Shareholders in Upsized Secondary Offering by Selling Shareholders

February 29, 2024
Firm advises on the offering by the diversified environmental services company.

GFL Environmental Inc. (NYSE: GFL) (TSX: GFL), the fourth largest diversified environmental services company in North America, has announced the pricing of the previously announced secondary offering by entities affiliated with HPS Investment Partners, LLC, BCEC-GFL Borrower (Cayman) LP, Ontario Teachers' Pension Plan Board, GFL Borrower II (Cayman) LP, and Poole Private Capital, LLC of 21,000,000 subordinate voting shares, which represents an increase of 4,000,000 Shares from the previously announced offering size, at the public offering price of US$34.45 per Share. GFL will not receive any proceeds from the Offering. RBC Capital Markets, LLC and RBC Dominion Securities Inc. will act as underwriters for the Offering in the United States and Canada, respectively.

Latham & Watkins LLP represented GFL Environmental and HPS Investment Partners and other certain selling stockholders in the offering with a capital markets team led by New York partners Stelios Saffos, Peter Sluka, and Andrew Blumenthal, and Washington, D.C. partner Paul Dudek, with associates Hana Nah, Adam Weber, and James Sullivan. Advice was also provided on tax matters by New York partners Matthew Dewitz and Eric Kamerman.