Topic: How To Invest

Spinoffs, Takeovers & Special Situations Hotline – Friday, December 8, 2017

Article Excerpt

GFL ENVIRONMENTAL INC. is a privately held Toronto-based waste management company. It operates in every province except Prince Edward Island and has about 140 facilities in Canada and Michigan. It also has a contract with the City of Toronto for residential waste collection. The company is reportedly looking to raise as much as $1.0 billion through an IPO, possibly as early as the first quarter of 2018. GFL (which stands for Green for Life) was founded in 2007 by Patrick Dovigi, its current CEO. The company has made 60 acquisitions over the past 11 years, including buying Rizzo Environmental in October 2016. The Michigan-based waste management company provides collection services for 40 municipalities in Southeastern Michigan. Renamed GFL-USA, Rizzo became the company’s platform for growing the Green for Life brand in the U.S. The IPO should be attractive to investors. It would be the largest non-resources IPO for the exchange since Hydro One (Toronto symbol H) went public in 2015. OUR RECOMMENDATION: We’ll keep…