GFL Environmental IncがBC PartnersやOTPPなど新投資家との51億2500万ドル資本再編を発表

AsiaNet 73186 （0702）

【トロント2018年4月23日PR Newswire＝共同通信JBN】GFL Environmental Inc.（「GFL」もしくは「同社」）と、Ontario Teachers' Pension Plan（「Ontario Teachers」）、その他を含むBC Partners（「BC Partners」）を中心とする投資家は23日、GFL Environmental Holdings Inc.の資本再編で合意したと共同で発表した。これによってGFLの全企業価値は約51億2500万ドルと見積もられ、GFLは北米で最大規模の環境サービス会社になる。

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GFLのパトリック・ダビジ創業者兼最高財務責任者（CEO）はこの取引によって、同社の役職と経営、多くの持ち分を担い続ける。一方で投資家側は、HPS Investment PartnersとMacquarie Infrastructure Partners III、Hawthorn Equity Partnersが管理するか、関連するファンドを含む現在のパートナーの持ち分を取得する。

GFLは北米で最も成長が著しい多彩な環境ソリューション提供会社。固形廃棄物管理や液体廃棄物管理、インフラ管理の各サービスに努めている。カナダと米ミシガン州にある140カ所以上の組織網を通して、より高い環境責任を促す費用対効果の良い廃棄物管理ソリューションを提供している。5000人を超えるGFLの従業員チームがサービスするのは、自治体契約の下での250万強の世帯、さらに6万社以上の産業・商業・組織の顧客である。

ダビジ氏はGFLを代表してこう語る。「GFLの次の成長段階に向けて、今日は特に重要なマイルストーンである。2007年に8人の従業員でささやかに始めてから、今ではカナダと米国で従業員数は5000人以上に成長した。この10年はまさに目を見張るものだった。この取引の調印は一人一人すべての従業員の努力と献身のたまものであり、彼らの不断の努力こそがGFLの今日をあらしめた。それがなければわれわれの持続的成長は不可能だった」

ダビジ氏はさらに「BC PartnersとOntario Teachers'はわれわれGFLのすべての条件に合致した。会社を興して以来、私にとても重要だったのは、同じ原則、価値観、ビジョンを共有し、われわれの意欲的な成長計画に充てるかなりの資金を持つパートナーを見つけることだった。HPS Investment PartnersとMacquarie Infrastructure Partners、Hawthorn Equity Partnersが過去数年間GFLを支援してくれたことに感謝したい」と付け加えた。

BC Partnersで今回の投資を進めたシニアパートナーのパオロ・ノタルニコラ氏は「BC Partnersはパトリックや彼の精鋭経営チームとの提携をうれしく思う。われわれの目標は彼らの驚異的な成長物語を伸ばすのに必要な資金と戦略的支援を用意することだ」と述べる。BC Partnersのパートナーで共同会長のレイモンド・スバイダー氏は「カナダのマーケットプレースを広げるというわが社の長期戦略の重要部分として、GFLやパートナーのOntario Teachersと密接に協力することに期待している」と続けた。

「GFLは実証済みの経営チームがリードした例外的なカナダのサクセスストーリーだ。GFLとパートナーのBC Partnersと提携し、わが社の株主に多大な価値を創造すること願っている」とOntario Teachers' Pension Planのプライベートキャピタル担当シニア・マネジング・ディレクターのジェーン・ロウ氏は話している。

この取引は2018年6月30日までに完了する見通し。BC Partnersのファイナンシャルアドバイザーは、カナダではスコシアバンク（Scotiabank）、米国ではCitiが務めた。Citigroup Global Markets Inc.もこの取引のために信用枠を提供した。GFLのファイナンシャルアドバイザーはRBC Capital Markets、CIBC World Markets Inc.、Goldman Sachs & Co. LLC、BMO Capital Markets、Barclays Capital Canada。GFLの法律顧問はStikeman Elliott LLPとCleary Gottleib Steen &Hamilton LLP。投資家側の法律顧問はOsler, Hoskin & Harcourt LLP 、Simpson Thacher & Bartlett LLP。

▽BC Partnersについて

BC Partnersは民間株式と民間金融で170億ユーロの資産を運用する大手の国際投資会社。1986年に創業したBC Partnersは30年間、欧州の買収市場の発展に積極的な役割を果たした。今日BC Partnersの幹部は、北米と欧州のオフィスを通じた統合チームとして各マーケットに働き掛けている。

BC Partnersは設立当初から101件の民間企業株式投資を実行し、その全事業価値は1240億ユーロに上り、現在は10番目の民間株式ファンドに投資している。詳しい情報はwww.bcpartners.com を参照。

▽Ontario Teachers’について

Ontario Teachers’Pension Plan（Ontario Teachers’）はカナダ最大の単独職種年金基金で、2017年6月30日時点の純資産は1805億カナダドル。多様な世界的ポートフォリオの資産を保有し、その約80%は内部運用で、1990年の基金創設以来の平均年間リターン率は10.1%。OntarioTeachers’は独立組織で、本部はトロントにある。アジア太平洋地域の事務所は香港に、欧州・中東・アフリカ地域の事務所はロンドンにある。基金は完全に資金が手当てされた確定給付型で、オンタリオ州の現役および引退教職員31万8000人の年金を投資、運用している。詳しい情報はotpp.comを参照するか、Twitter@OtppInfoでフォローを。

▽GFLについて

GFLはオンタリオ州トロントに本社を置く総合環境サービス会社で、カナダとミシガン州南東部にある施設を基盤に、固形廃棄物、インフラ・土壌改善、液体廃棄物管理の各サービスで総合的業務を提供する。従業員は5000人以上で、6万社以上の商業・産業顧客への幅広い環境サービス、250万強の家庭には固形廃棄物収集サービスに努めている。

ソース：GFL Environmental Inc.

▽問い合わせ先

For media enquiries:

For BC Partners:

Scott Davidson, Teneo Strategy,

+1 (647) 793 8815

scott.davidson@teneostrategy.com

or Andrew Honnor, Alex Jones and Matthieu Roussellier

Greenbrook Communications

+44 207 952 2000

bcpartners@greenbrookpr.com

For GFL,

Patrick Dovigi, Founder and Chief Executive Officer

+1 416 673 9385

pdovigi@gflenv.com

GFL Environmental Inc. announces $5.125 Billion recapitalization with new investors led by BC Partners and their partner OTPP

PR73186

TORONTO, April 23, 2018 /PRNewswire=KYODO JBN/ --

GFL Environmental Inc. ("GFL" or the "Company") and investors led by BC

Partners ("BC Partners"), including Ontario Teachers' Pension Plan ("Ontario

Teachers'") and others, jointly announced today their agreement to recapitalize

GFL Environmental Holdings Inc. The transaction implies a total GFL enterprise

value of approximately $5.125 billion, making GFL one of the largest

environmental services companies in North America.

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In connection with the transaction, Patrick Dovigi, Founder and CEO, will

maintain his role and leadership of GFL, as well as significant ownership in

the Company, while the investors will acquire the interests of current partners

including funds managed or associated with HPS Investment Partners, Macquarie

Infrastructure Partners III and Hawthorn Equity Partners.

GFL is one of the fastest growing North American providers of diversified

environmental solutions. It provides services in solid waste management, liquid

waste management and infrastructure management. Through its network of more

than 140 facilities across Canada and in Michigan, GFL provides cost-effective

waste management solutions that encourage greater environmental responsibility.

GFL's team of more than 5,000 employees provides local services to more than

2.5 million households under municipal contracts and to more than 60,000

industrial, commercial and institutional customers.

Mr. Dovigi, on behalf of GFL, said "today is a very important milestone for the

next phase of growth of GFL.  From our humble beginnings in 2007 with eight

employees to having now grown to a workforce of over 5,000 in both Canada and

the United States, the last 10 years have been nothing short of remarkable.  

The signing of this transaction reflects the hard work and dedication of each

and every one of our employees whose tireless efforts make GFL what it is

today. Without them, our continued success would not be possible."  

Mr. Dovigi added, "BC Partners and Ontario Teachers' tick all the boxes for us

at GFL.  Having founded the company, it was very important to me to find

partners that shared the same principles, values and vision, along with having

significant capital to fund our ambitious growth plans. I would like to thank

HPS Investment Partners, Macquarie Infrastructure Partners and Hawthorn Equity

Partners for their support of GFL during the past years."

Paolo Notarnicola, Senior Partner, who led the investment said: "BC Partners is

excited to be partnering with Patrick and his high quality management team. Our

goal is to provide the capital and strategic support necessary for the

continuation of their remarkable growth story." Raymond Svider, Managing

Partner and co-Chairman of BC Partners, added: "We look forward to a close

collaboration with GFL and our partners at Ontario Teachers as an important

part of our long-term strategy to grow in the Canadian marketplace."

"GFL is an exceptional Canadian success story led by a proven management team.

We expect this partnership with GFL and our partners at BC Partners to create

significant value for our stakeholders," said Jane Rowe, Senior Managing

Director, Private Capital at Ontario Teachers' Pension Plan."

The transaction is expected to close by June 30, 2018. Scotiabank acted as

financial advisor to BC Partners in Canada with Citi in the United States.

Citigroup Global Markets Inc. also provided committed financing for the

transaction.  RBC Capital Markets, CIBC World Markets Inc., Goldman Sachs & Co.

LLC, BMO Capital Markets and Barclays Capital Canada acted as financial advisor

to GFL.  Stikeman Elliott LLP and Cleary Gottleib Steen &Hamilton LLP are legal

advisors to GFL, while Osler, Hoskin & Harcourt LLP and Simpson Thacher &

Bartlett LLP provided legal advice to the investors.

About BC Partners

BC Partners is a leading international investment firm with over EUROS 17

billion of assets under management in private equity and private credit.

Established in 1986, BC Partners has played an active role in developing the

European buy-out market for three decades. Today, BC Partners executives

operate across markets as an integrated team through the firm's offices in

North America and Europe.

Since inception, BC Partners has completed 101 private equity investments in

companies with a total enterprise value of EUROS 124 billion and is currently

investing its tenth private equity fund. For more information, please visit

www.bcpartners.com.  

About Ontario Teachers'

The Ontario Teachers' Pension Plan (Ontario Teachers') is Canada's largest

single-profession pension plan, with C$180.5 billion in net assets at 30 June

2017. It holds a diverse global portfolio of assets, approximately 80% of which

is managed in-house, and has earned an annualized gross rate of return of 10.1%

since the Plan's founding in 1990. Ontario Teachers' is an independent

organization headquartered in Toronto. Its Asia-Pacific region office is

located in Hong Kong and its Europe, Middle East & Africa region office is in

London. The defined-benefit plan, which is fully funded, invests and

administers the pensions of the province of Ontario's 318,000 active and

retired teachers. For more information, visit otpp.com and follow us on Twitter

@OtppInfo.

About GFL

GFL, headquartered in Toronto, ON, is a diversified environmental services

company providing a comprehensive line of solid waste, infrastructure & soil

remediation, and liquid waste management services through its platform of

facilities across Canada and in Southeastern Michigan. GFL has a workforce of

more than 5,000 employees and provides its broad range of environmental

services to more than 60,000 commercial and industrial customers and its solid

waste collection services to more than 2.5 million households.

Forward-Looking Information

This release may contain forward-looking information including but not limited

to the proposed recapitalization of GFL by investors including BC Partners,

Ontario Teachers' and others. Such forward-looking information is based on

certain assumptions and analysis made by GFL in light of its experience and

perception of current conditions and expected future developments as well as

other factors it believes are appropriate in the circumstances. However,

whether actual results, performance or achievements will conform to GFL's

expectations and predictions is subject to market conditions and a number of

known and unknown risks and uncertainties which could cause actual results to

differ materially from GFL's expectations.

CONTACT: For media enquiries: For BC Partners: Scott Davidson, Teneo Strategy,

+1 (647) 793 8815, scott.davidson@teneostrategy.com; or Andrew Honnor, Alex

Jones and Matthieu Roussellier, Greenbrook Communications, +44 207 952 2000,

bcpartners@greenbrookpr.com, For GFL, Patrick Dovigi, Founder and Chief

Executive Officer, +1 416 673 9385, pdovigi@gflenv.com

SOURCE  GFL Environmental Inc.