GFL Environmental has completed its acquisition of SECURE Waste Infrastructure Corp., financing the deal with a revolving facility, the issuance of over 75 million GFL subordinate voting shares, and a new US$1 billion senior secured term loan.

SECURE joins GFL with more than 2,000 employees, and SECURE leadership, including Allen Gransch, will remain to lead the combined business as part of GFL’s ownership.

The integration adds SECURE’s waste infrastructure operations and workforce to GFL, expanding the company’s scale.

The release uses non-IFRS measures (e.g., EBITDA, Adjusted EBITDA, Acquisition EBITDA, Net Leverage, Run-Rate EBITDA) as supplemental insight and notes they differ from IFRS metrics.

Forward-looking statements address expected financial and strategic benefits, leverage targets, and growth plans, with cautionary notes about risks and regulatory disclosures per GFL filings.

The Senior Secured Term Loan matures on August 28, 2033 and bears interest at SOFR plus 200 basis points (roughly 5.0% after swaps).

CEO Patrick Dovigi says the deal accelerates multi-year financial targets, expands scale, increases capital deployment capacity, and aims to keep Net Leverage in the mid-3x range by year-end.

Management notes the term loan closed oversubscribed and did not affect GFL’s credit rating, with an eye toward achieving investment-grade status in the near to medium term.

SECURE’s shares are expected to be delisted from the TSX around early September 2026, with GFL shares assumingly beginning trading on the TSX and NYSE under the symbol GFL.

GFL operates across North America in waste management and environmental services, including collection, transfer, recycling, and disposal.