GFL Environmental Acquires SECURE Waste Infrastructure Corp

MIAMI BEACH, FL, Sept. 1, 2026 /CourierPR/ -- GFL Environmental Expands Portfolio with Acquisition of SECURE Waste Infrastructure Corp.

GFL Environmental Inc., a leading diversified environmental services company, has completed the acquisition of SECURE Waste Infrastructure Corp., effective today. The transaction, announced on August 28, 2026, marks a significant milestone for GFL, as it integrates over 2,000 employees from SECURE into its existing workforce.

Patrick Dovigi, Founder and CEO of GFL, expressed enthusiasm about the acquisition: "We are thrilled to welcome the SECURE team to the GFL family. Allen Gransch and other SECURE management will continue to lead the SECURE business as both employees and shareholders of GFL, ensuring a smooth transition."

The deal was financed through a combination of GFL's revolving credit facility, the issuance of 75,126,306 subordinate voting shares, and a new US$1 billion senior secured term loan. According to Dovigi, the term loan matures in August 2033 and carries an interest rate of SOFR +200 basis points, or approximately 5.0% after accounting for cross-currency interest rate swaps.

"This acquisition is a crucial step in our strategy to create long-term equity value for shareholders," Dovigi continued. "It is expected to significantly accelerate the achievement of our multi-year financial targets, as outlined at our investor day in early 2025. Our enhanced scale will allow us to increase capital deployment, while maintaining a targeted year-end Net Leverage ratio in the mid 3s."

Dovigi added, "The senior secured term loan transaction was oversubscribed, reflecting our strong relationships with high-quality debt investors. We remain committed to achieving an investment-grade rating in the near-to-medium term."

GFL, the fourth-largest diversified environmental services company in North America, now serves 17,000 employees across its extensive network of facilities in Canada and 19 U.S. states. The acquisition of SECURE is expected to further bolster GFL's market position.

SECURE shareholders will see their common shares delisted from the Toronto Stock Exchange on September 2, 2026. Meanwhile, the GFL subordinate voting shares received by SECURE shareholders will begin trading on the Toronto Stock Exchange and the New York Stock Exchange on the same day.

While the transaction is expected to bring significant benefits, including expanded service capabilities and enhanced market presence, GFL emphasizes that its forward-looking statements and non-IFRS measures should be evaluated with caution. The company notes that such measures are subject to various risks and uncertainties, including market conditions, economic factors, and regulatory changes.

"We remain focused on our long-term goals and will continue to navigate the challenges and opportunities ahead," Dovigi concluded.