GFL Environmental to acquire WCA Waste from Macquarie Infrastructure for $600m..

GFL Environmental, a diversified environmental services company, agreed to acquire WCA Waste, a solid waste management company, from Macquarie Infrastructure, a hedge fund, for $600m. "We continue to deliver on our goal of pursuing strategic and accretive acquisitions to grow our business. The WCA transaction, which we have been working on for over a year, is another example of this commitment. The high quality, vertically integrated network of assets, together with our recently announced acquisition of certain divestiture assets resulting from the Waste Management and ADS transaction, will complement our existing footprint and provide us with the runway to further expand in the US through tuck-in acquisitions and providing our suite of environmental services solutions to new customers. We are excited to welcome almost 1,6k employees of WCA to the GFL family. To fund part of the transaction, we will be issuing new equity to HPS Investment Partners, a long standing partner of GFL, at a premium to market. Their continued support is a testament to their belief in the value proposition of GFL. The new equity will help us maintain our leverage within expected levels," Patrick Dovigi, GFL Founder and CEO.