GFL Environmental Completes Acquisition of Secure Waste Infrastructure
GFL Environmental has completed its acquisition of Secure Waste Infrastructure, significantly expanding the company’s presence in western Canada. The $6.4 billion deal is expected to accelerate GFL's financial targets and enhance shareholder value by leveraging Secure's energy and production waste assets. Financing for the transaction was split between stock compensation (80%) and cash (20%), supported by a new $1 billion senior secured term loan. Secure, which will be delisted from the Toronto Stock Exchange on September 2, reported first-half revenue of $805 million in 2026—a 10% year-over-year increase. The acquisition is not expected to raise GFL's net leverage ratio due to Secure’s strong free cash flow and low debt levels. GFL executives also confirmed ongoing discussions for a potential take-private deal, with offers from interested buyers expected by the end of September.
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