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Latham Represents GFL Environmental Inc. in Agreement to Recapitalize Green Infrastructure Partners at an Enterprise Value of US$4.25 Billion With Investment From Energy Capital Partners

August 7, 2025
Hybrid Capital and M&A team advises on the recapitalization for Green Infrastructure Partners, the infrastructure company established by GFL, HPS Investment Partners, and Patrick Dovigi.

GFL Environmental Inc. (NYSE: GFL) (TSX: GFL), the fourth largest diversified environmental services company in North America, has announced that Green Infrastructure Partners (GIP) has entered into a definitive agreement with funds managed by Energy Capital Partners, LLC (ECP) to recapitalize its business at an enterprise value of US$4.25 billion. GIP is a leading vertically integrated infrastructure company established in 2022 by GFL, funds managed by HPS Investment Partners Inc. and Patrick Dovigi.

Latham & Watkins LLP represented GFL in the transaction with a team led by partners Stelios Saffos and Peter Sluka, Global Co-Chairs of the Hybrid Capital Practice, and partner Sal Vanchieri, with associates Ian Lachow and Elina Stavropoulou. Advice was provided on M&A matters by partner Paul Kukish, Global Co-Chair of the M&A and Private Equity Practice, and partners Michael Vardanian and Matthew Villar, with associate Grant Steiger; and on tax matters by partner Eric Kamerman.

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