10:55 AM EDT, 08/07/2025 (MT Newswires) -- GFL Environmental ( GFL ) said Thursday that Green Infrastructure Partners (GIP) has sealed a deal with funds managed by Energy Capital Partners, LLC to recapitalize its business at an enterprise value of $4.25 billion.

A statement noted that on closing of the transaction, GIP, a vertically integrated infrastructure company established in 2022 by GFL, will receive $775 million total proceeds. It will return $585 million to shareholders, of which $200 million will go to GFL, which will own a 30.1% stake in the company valued at $895 million.

GIP will also set aside $175 million to fund future growth. The transaction is expected to close on or about Sept. 2.

"The recapitalization of GIP at an enterprise value of $4.25 billion is a testament to the quality of the business its management team has built since we started GIP in April 2022," said Patrick Dovigi, founder and chief executive officer of GFL.

GFL shares are up $0.26, to $69.75, on the Toronto Stock Exchange.

Price: 69.75, Change: +0.26, Percent Change: +0.37