Announcement • Apr 22
Abrams Capital Intends to Vote Against Business Arrangement On April 20, 2026, Abrams Capital Management LP announced that it may engage in discussions with other shareholders or representatives of Secure Waste Infrastructure Corp. concerning, among other things, the proposed transaction with GFL Environmental Inc., pursuant to which GFL would acquire all of the outstanding shares of Company by way of a shareholder approved and court approved plan of arrangement, and the business or strategy of Company, including potential changes to the foregoing; and/or take any other such actions with respect to Secure as Abrams Capital may from time to time deem appropriate. In addition, Abrams Capital believes Company is a uniquely well-positioned business with significant long-term potential under its current management team and does not believe that the arrangement is in the best interests of Company and its shareholders and intends to vote against it. Announcement • Apr 14
GFL Environmental Inc. (TSX:GFL) entered into a definitive agreement to acquire SECURE Waste Infrastructure Corp. (TSX:SES) from Angelo, Gordon & Co., L.P., Solus Alternative Asset Management LP and others for approximately CAD 5.5 billion. GFL Environmental Inc. (TSX:GFL) entered into a definitive agreement to acquire SECURE Waste Infrastructure Corp. (TSX:SES) from Angelo, Gordon & Co., L.P., Solus Alternative Asset Management LP and others for approximately CAD 5.5 billion on April 13, 2026. Pursuant to which GFL has agreed to acquire all of the issued and outstanding common shares of SECURE for CAD 24.75 per SECURE common share, representing an enterprise value of approximately CAD 6.4 billion (the "Transaction"). The purchase price of CAD 24.75 per SECURE common share represents a premium of 23% to the volume weighted average price of the common shares of SECURE for the 60 trading days ending April 10, 2026. Under the terms of the Transaction, SECURE common shareholders will receive, at their election, (i) CAD 24.75 in cash, (ii) 0.4195 of a GFL subordinate voting share or (iii) a combination of CAD 4.95 in cash and 0.3356 of a GFL subordinate voting share, for each SECURE common share held, subject to pro-ration, based on a maximum amount of GFL subordinate voting shares and maximum amount of cash as set out in the plan of arrangement, such that the aggregate consideration paid to SECURE common shareholders will consist of 80% GFL subordinate voting shares and 20% cash. GFL has obtained fully committed financing for the Transaction through a bridge facility which can be used, together with cash on hand and capacity under its revolving credit facility, to fund the cash component of the Transaction. SECURE has also granted GFL a right-to-match any superior proposal and will pay a termination fee of CAD 200 million to GFL if the Arrangement Agreement is terminated in certain circumstances. GFL has agreed to pay an expense reimbursement fee of up to CAD 20 million to SECURE if the Arrangement Agreement is terminated in certain circumstances. Following completion of the Transaction, it is expected that the SECURE common shares will be delisted from the TSX and SECURE will cease to be a reporting issuer under Canadian securities laws.
The Transaction is expected to close in the second half of 2026, subject to the satisfaction of customary closing conditions, including court approval, regulatory approvals and approval by SECURE shareholders. The Transaction has been unanimously approved by the Board of Directors of both companies. Angelo, Gordon & Co. LP and Solus Alternative Asset Management LP, which collectively own approximately 20% of the issued and outstanding SECURE common shares, together with the directors and senior officers of SECURE who collectively own approximately 2% of the issued and outstanding SECURE common shares, have entered into customary voting and support agreements pursuant to which they have agreed to vote all of their SECURE common shares in favor of the Transaction at a special meeting of shareholders which is expected to be held in late May 2026. In connection with the Transaction, the SECURE Board established a special committee (the "Special Committee"), comprised entirely of independent directors, to, among other matters, review the terms of the Transaction and consider potential alternatives available to SECURE. The acquired assets coupled with SECURE's strong operating margins and lower maintenance capital intensity are expected to increase Adjusted EBITDA margin(1) to 31.6% and Adjusted Free Cash Flow conversion to between 40.5% and 42.5%. The transaction is also expected to be immediately accretive to Adjusted Free Cash Flow per share by 12% to 15%. Our significantly enhanced scale following the acquisition will allow us to materially increase our capital deployment capacity while maintaining our targeted year end Net Leverage in the low-to-mid 3s. Additionally, the transaction increases GFL's float weighted market capitalization.
Barclays is acting as financial advisor to GFL and Stikeman Elliott LLP is acting as legal counsel to GFL in connection with the Transaction. Moelis & Company LLC and RBC Capital Markets are acting as financial advisors to SECURE. McCarthy Tétrault LLP is acting as lead Canadian legal counsel to SECURE in connection with the Transaction, with Bennett Jones LLP acting as Canadian competition counsel to SECURE. RBC Capital Markets provided a verbal independent fairness opinion to the SECURE Board and ATB Cormark Capital Markets provided a verbal independent fairness opinion to the Special Committee. Announcement • Mar 18
SECURE Waste Infrastructure Corp. Declares Quarterly Dividend, Payable on or About April 15, 2026 SECURE Waste Infrastructure Corp. announced that its Board of Directors has declared a quarterly dividend of $0.105 per common share payable on or about April 15, 2026, to shareholders of record on April 1, 2026. The declared dividend reflects the previously announced 5% increase to SECURE's quarterly dividend, raising the rate from $0.10 to $0.105 per share and underscoring the Corporation's confidence in the strength and sustainability of its cash flows. Announcement • Mar 17
SECURE Waste Infrastructure Corp. to Report Q1, 2026 Results on Apr 30, 2026 SECURE Waste Infrastructure Corp. announced that they will report Q1, 2026 results Pre-Market on Apr 30, 2026 Announcement • Feb 23
SECURE Waste Infrastructure Corp., Annual General Meeting, Apr 30, 2026 SECURE Waste Infrastructure Corp., Annual General Meeting, Apr 30, 2026. Announcement • Feb 20
Secure Waste Infrastructure Corp. Approves Quarterly Dividend SECURE Waste Infrastructure Corp.'s Board of Directors approved a 5% increase to the quarterly dividend rate to $0.105 per share. Announcement • Dec 17
Secure Waste Infrastructure Corp. Declares Quarterly Dividend, Payable on or About January 15, 2026 SECURE Waste Infrastructure Corp. announced that its Board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about January 15, 2026, to shareholders of record on January 1, 2026. Announcement • Dec 16
SECURE Waste Infrastructure Corp. to Report Q4, 2025 Results on Feb 20, 2026 SECURE Waste Infrastructure Corp. announced that they will report Q4, 2025 results Pre-Market on Feb 20, 2026 Announcement • Jun 19
Secure Waste Infrastructure Corp. Declares Quarterly Dividend, Payable on or About July 15, 2025 SECURE Waste Infrastructure Corp. board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about July 15, 2025, to shareholders of record on July 1, 2025. Announcement • Jun 17
SECURE Waste Infrastructure Corp. to Report Q2, 2025 Results on Jul 29, 2025 SECURE Waste Infrastructure Corp. announced that they will report Q2, 2025 results Pre-Market on Jul 29, 2025 Announcement • May 15
SECURE Waste Infrastructure Corp. announced that it expects to receive CAD 900 million in funding SECURE Waste Infrastructure Corp. announced that it has entered into an amended and extended credit agreement it will receive CAD 900 million in round of funding on May 13, 2025. The company will receive Senior Secured Revolving Credit Facility in the transaction. The transaction is expected to close on May 31, 2028. Announcement • Apr 10
SECURE Waste Infrastructure Corp. (TSX:SES) announces an Equity Buyback for 7.22% of its issued share capital, for CAD 200 million. SECURE Waste Infrastructure Corp. (TSX:SES) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to 7.22% of it's issued share capital for $200 million. The shares will be tendered at a price of not less than $12 per share and not more than $14.50 per share. The company plans to fund the offer from existing revolving credit facility and available cash on hand. If the aggregate cost to purchase the tendered shares exceeds $200 million, the company will accept such shares on a pro-rata basis after giving effect to “odd lot” tenders, which will not be subject to pro-ration. The bid will expire on May 14, 2025, unless extended or withdrawn. As of April 7, 2025, the company had 230,865,489 shares in issue. Announcement • Feb 24
SECURE Waste Infrastructure Corp., Annual General Meeting, May 02, 2025 SECURE Waste Infrastructure Corp., Annual General Meeting, May 02, 2025. Announcement • Feb 01
SECURE Waste Infrastructure Corp. to Report Q4, 2024 Results on Feb 21, 2025 SECURE Waste Infrastructure Corp. announced that they will report Q4, 2024 results Pre-Market on Feb 21, 2025 Announcement • Dec 16
Secure Energy Services Inc. Declares Quarterly Dividend, Payable on or About January 15, 2025 Secure Energy Services Inc.'s Board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about January 15, 2025, to shareholders of record on January 1, 2025. Announcement • Apr 30
Secure Energy Services Inc. (TSX:SES) announces an Equity Buyback for 13,181,020 shares, for CAD 150 million. Secure Energy Services Inc. (TSX:SES) announces a share repurchase program. Under the program, the company will repurchase up to 13,181,020 shares for $150 million. The shares will be repurchased at a price not more than CAD 11.38 per share. The repurchases will be funded from available cash on hand. The repurchased shares will be cancelled. The company has entered into a share repurchase agreement with TPG Angelo Gordon to repurchase it's shares. Announcement • Feb 16
Secure Energy Services Inc., Annual General Meeting, Apr 26, 2024 Secure Energy Services Inc., Annual General Meeting, Apr 26, 2024. Announcement • Feb 02
Waste Connections of Canada Inc. completed the acquisition of Portfolio of 30 Energy Waste Treatment and Disposal Facilities in Western Canada from Secure Energy Services Inc. (TSX:SES). Waste Connections of Canada Inc. entered into an agreement to acquire Portfolio of 30 Energy Waste Treatment and Disposal Facilities in Western Canada from Secure Energy Services Inc. (TSX:SES) for CAD 1.2 billion on December 11, 2023. As per agreement, Waste Connections of Canada Inc. will pay CAD 1.075 billion in cash plus CAD 75 million for certain adjustments as provided in the Agreement for total estimated cash proceeds of CAD 1.150 billion. The transaction has been approved by the Secure board. The transaction is subject to regulatory approval by the Competition Bureau, regulatory approvals and the satisfaction of customary closing conditions. The transaction is expected to close in the first quarter of 2024.
Goldman Sachs & Co. LLC acted financial advisor to Secure Energy and Bennett Jones LLP acted as legal counsel to Secure Energy.
Waste Connections of Canada Inc. completed the acquisition of Portfolio of 30 Energy Waste Treatment and Disposal Facilities in Western Canada from Secure Energy Services Inc. (TSX:SES) on February 1, 2024. The transaction received Canadian Competition Bureau consent on January 30, 2024. Announcement • Dec 16
Secure Energy Services Inc. Announces Quarterly Dividend , Payable on or About January 15, 2024 SECURE ENERGY Services Inc. announced that its Board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about January 15, 2024, to shareholders of record on January 1, 2024. Announcement • Jan 06
Secure Energy Services Inc. Announces Board Changes Secure Energy Services Inc. announced Michael (Mick) Dilger has been appointed as Chairman of the Board of Directors effective January 5, 2023. Mr. Dilger succeeds interim Chairman Brad Munro, who remains a Director of the Corporation. Mr. Dilger was President and Chief Executive Officer of Pembina Pipeline Corporation ("Pembina") from January 2014 to November 2021, and was also a director of Pembina during this time. Prior thereto he was Pembina's President and Chief Operating Officer (February 2012 to December 2013), Chief Operating Officer (November 2008 to February 2012) and Vice President, Business Development (2005 to 2008). Before joining Pembina, Mr. Dilger worked as a senior executive in various financial and business development positions in both oil and gas as well as infrastructure companies, ranging from companies in the initial capitalization phase to multi-national corporations, including NOVA Corporation and TransCanada PipeLines. His expertise includes corporate and strategic development, acquisitions and divestitures, and finance and business development. Mr. Dilger was a director of Trilogy Energy Trust for 14 years, where he served as Chairman of the Health, Safety & Environment Committee until 2017, when Trilogy was sold. Mr. Dilger was co-chair of the 2016 United Way of Calgary campaign. Mr. Dilger has been a Chartered Professional Accountant since 1989 and holds a Bachelor of Commerce degree from the University of Calgary. Announcement • Dec 16
Secure Energy Services Inc. to Report Q4, 2022 Results on Mar 02, 2023 Secure Energy Services Inc. announced that they will report Q4, 2022 results Pre-Market on Mar 02, 2023 Announcement • Jul 10
Secure Energy Services Inc. to Report Q2, 2020 Results on Jul 28, 2020 Secure Energy Services Inc. announced that they will report Q2, 2020 results on Jul 28, 2020