The transaction, which closed on September 1, 2026, was supported by the issuance of 75,126,306 subordinate voting shares and a long-term loan maturing in 2033. GFL leadership noted that the debt portion of the financing was significantly oversubscribed, signaling strong investor confidence despite the scale of the expansion. SECURE management, including Allen Gransch, will remain with the company to oversee the transition.
GFL Environmental Finalizes SECURE Waste Acquisition
GFL Environmental has completed its acquisition of SECURE Waste Infrastructure Corp., a strategic move funded through a combination of new equity and a US$1 billion senior secured term loan. The deal integrates SECURE’s operations into GFL’s North American network, adding over 2,000 employees to the environmental services firm.
Patrick Dovigi, CEO of GFL, stated that the acquisition is expected to accelerate the company’s multi-year financial targets while maintaining a net leverage ratio in the mid-3s. SECURE common shares are set to be delisted from the Toronto Stock Exchange on September 2, 2026, with GFL shares continuing to trade on both the TSX and NYSE. The company plans to provide updated 2026 financial guidance later this year to account for the integration of the new business.
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