Apollo and BC Partners to acquire a 56% stake in Environmental Services business of GFL Environmental for $4.5bn.

Apollo, an alternative investment manager, and BC Partners, a private equity investment firm, agreed to acquire a 56% stake in acquire Environmental Services business of GFL Environmental, a waste management services provider, for $4.5bn. "The sale of our Environmental Services business at an enterprise value of $8bn is substantially above our initial expectations and is a testament to the quality of the business that we have built. The transaction will allow us to materially delever our balance sheet which will accelerate our path to an investment grade credit rating," Patrick Dovigi, GFL Founder and CEO.