GFL Environmental Holdings Plans $1.9 Billion IPO for November 7th (GFL)

GFL Environmental Holdings (GFL) expects to raise $1.9 billion in an initial public offering (IPO) on Thursday, November 7th, IPO Scoop reports. The company will be issuing 87,600,000 shares at a price of $20.00-$24.00 per share.

In the last year, GFL Environmental Holdings generated $2.1 billion in revenue and had a net loss of $367.2 million. The company has a market-cap of $8.8 billion.

JPMorgan, BMO Capital Markets, Goldman Sachs, RBC Capital Markets and Scotiabank acted as the underwriters for the IPO and Barclays, BC Partners, Raymond James, Stifel Nicolaus, TD Securities, BofA Securities, CIBC Capital Markets, HSBC, Macquarie Capital and National Bank Financial were co-managers.

GFL Environmental Holdings provided the following description of their company for its IPO: “GFL is the fourth largest diversified environmental services company in North America with a demonstrated ability to grow revenue in excess of our publicly-traded environmental services peers. We have an extensive geographic footprint, operating throughout Canada and in 23 states in the United States. Our diversified business model and competitive positioning in the stable environmental services industry have allowed us to maintain strong revenue growth across macroeconomic cycles. Our diversified offerings include non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services. Our solid waste management business line includes the collection, transportation, transfer, recycling and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers. Our infrastructure & soil remediation business line provides remediation of contaminated soils as well as complementary services, including  civil, demolition, excavation and shoring services. In our liquid waste management business line, we collect, transport, process, recycle and/or dispose of a wide range of liquid wastes from commercial and industrial customers. “.

GFL Environmental Holdings was founded in 2007 and has 9500 employees. The company is located at 100 New Park Place Suite 500, Vaughan, ON, L4K 0H9, Canada and can be reached via phone at (905) 326-0101 or on the web at

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