Milbank LLP is advising Energy Capital Partners, LLC (“ECP”) in connection with the definitive agreement between Green Infrastructure Partners (“GIP”) and funds managed by Energy Capital Partners, LLC to recapitalize GIP’s business at an enterprise value of CA$4.25 billion, as announced by GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) today.
GIP is one of Canada’s largest and most diversified infrastructure companies. GIP offers vertically integrated infrastructure solutions for public and private projects of every size and scale throughout Canada. ECP is a leading investment firm across energy transition infrastructure, with a focus on investing in electricity and sustainability infrastructure providing reliable, affordable and clean energy. In 2024, ECP combined with London-listed Bridgepoint Group Plc (LSE: BPT.L) to create a global leader in value-added middle-market investing with a combined $87 billion of assets under management across private equity, credit and infrastructure.
Upon closing, ECP will invest CA$775 million into GIP. The transaction is expected to close on or about September 2, 2025.
The Milbank LLP team is led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini and Global Corporate/M&A partners Aaron Stine and Daniel P. Tyrrell. The team also includes Global Corporate/M&A associates Leslie Hamic and Joshua Rosenberg; and Tax partner Max Goodman and associate Michael Rivkin.
