Carey Olsen advises on GFL Environmental's secondary offering
Carey Olsen's Cayman Islands corporate team has advised in connection with the $650 million dual-listed U.S. and Canadian secondary offering of subordinate voting shares of GFL Environmental Inc. (NYSE, TSX: GFL).
The selling shareholders, which included BC Partners, GIC, OTPP Environmental Services Trust, and Poole Private Capital, LLC, collectively agreed to sell 18,176,073 subordinate voting shares at the public offering price of US$36.20 per share in a fully underwritten secondary transaction. Goldman Sachs acted as the underwriters for the offering.
Carey Olsen acted for BC Partners and GIC alongside onshore counsel Simpson Thacher & Bartlett LLP. The Carey Olsen team advising the sellers comprised Cayman Islands partners Nick Bullmore and Dylan Wiltermuth. The same team previously advised certain shareholders of GFL Environment Inc. on a US$500 million secondary offering in November 2021.
GFL is headquartered in Vaughan, Ontario and is the fourth largest diversified environmental services company in North America. Its services include solid and liquid waste management and soil remediation in Canada and the Northern American states.
