Carey Olsen advises certain sellers in GFL Environmental's US$900,000,000 secondary offering
Carey Olsen's Cayman Islands corporate team has advised GFL Borrower II (Cayman) LP (GFL) in connection with the US$900,000,000 million dual-listed U.S. and Canadian secondary offering of subordinate voting shares of GFL Environmental Inc. (NYSE, TSX: GFL) which closed on 31 March 2025.
The selling shareholders, which included GFL, Ontario Teachers' Pension Plan Board, Poole Private Capital, LLC, and entities affiliated with HPS Investment Partners, LLC, collectively agreed to sell 18,887,723 subordinate voting shares at the public offering price of US$47.65 per share in a fully underwritten secondary transaction. RBC Capital Markets, LLC and RBC Dominion Securities Inc. acted as the underwriters for the offering in the United States and Canada, respectively.
Carey Olsen acted for GFL alongside onshore counsel Simpson Thacher & Bartlett LLP. The Carey Olsen team advising the sellers comprised Cayman Islands partner Dylan Wiltermuth and attorney Nich Vasic.
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management services through its platform of facilities throughout Canada and in 18 U.S. states.
