GFL Recapitalizing Construction Arm GIP in $4.25B Deal
Connect CRE
AI Article Summary
GFL Environmental has announced a $4.25 billion recapitalization of its construction subsidiary, Green Infrastructure Partners (GIP), with Energy Capital Partners. GIP will receive $775 million in gross proceeds, with $200 million going to GFL; the rest will support GIP's growth. GFL will retain a 30.1% ownership in GIP, allowing it to participate in future value creation. This move comes as a strategic decision to manage investor concerns over GFL's debt-driven growth.
