GFL Environmental Inc. completed the spin-off of its infrastructure division, GFL Infrastructure Group Inc., to form Green Infrastructure Partners Inc. (GIP). Immediately following this spin-off, GIP acquired Coco Paving Inc. and its affiliates, significantly enhancing its presence in the Canadian infrastructure services sector.

Coco has operations across Ontario, Quebec, Manitoba and Saskatchewan that include access to over 250 aggregate sites, 33 asphalt plants, eight concrete plants and one of Canada’s largest asphalt cement terminals.

As consideration for the spin-off of GFL Infrastructure, GFL received $224 million in cash and a 45 percent equity interest in GIP.