Green Infrastructure Partners Acquisition & Valuation

Green Infrastructure Partners was acquired by HPS Investment Partners in April 2022.

Green Infrastructure Partners acquisition price

Undisclosed

Acquired by HPS Investment Partners · Apr 2022

Key investors in Green Infrastructure Partners

  • Energy Capital Partners

Green Infrastructure Partners Overview

About Green Infrastructure Partners

Green Infrastructure Partners is an infrastructure development firm headquartered in Toronto, Canada, specializing in urban renewal projects using recycled aggregates and sustainable materials. The company manages demolition, earthworks, paving, and utilities installation for public roads, bridges, rail corridors, and private developments. It supports municipal contracts in Ontario and Quebec to expand transit and housing infrastructure.


Founded

2022

HQ

CanadaToronto

Website

gipi.com

Status

Acquired

Customer focus

B2B & B2G

Revenue model

Services

Valuation

$4.3B (Aug 2025)

Green Infrastructure Partners Acquisition

Green Infrastructure Partners was acquired by HPS Investment Partners for an undisclosed price on 25 April 2022.

Green Infrastructure Partners acquisition details
AcquirerDateType
  • HPS Investment Partners
25 Apr 2022PE buyout

Green Infrastructure Partners Valuation

Green Infrastructure Partners is currently valued at $4.3B, based on its secondary sale in August 2025.

The $562M round was led by Energy Capital Partners.

Green Infrastructure Partners valuation by funding round

Green Infrastructure Partners valuation by funding round
DateStageValuation
Aug 2025Secondary$4.3B

Green Infrastructure Partners Funding History

Green Infrastructure Partners has 1 recorded secondary share sale and no primary funding rounds.

Green Infrastructure Partners funding rounds

Green Infrastructure Partners funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2025SecondaryEnergy Capital Partners (lead)$562M$4.3BGreen Infrastructure Partners (GIP) is a vertically integrated infrastructure company established in 2022 through a partnership between GFL Environmental Inc., funds managed by HPS Investment Partners, and Patrick Dovigi. The company provides essential infrastructure services across maintenance, repair, inspection, and construction for critical assets in transportation, water, power, utility, telecom, and energy sectors. On August 7, 2025, GIP entered into a definitive agreement to be recapitalized at an enterprise value of $4.25 billion by funds managed by Energy Capital Partners (ECP), a leading investor in critical infrastructure with approximately $87 billion in assets under management (combined with Bridgepoint Group as of 2024). The transaction closed on September 4, 2025. GIP received $775 million in net proceeds from the investment, which the company allocated approximately $585 million for distribution to shareholders and $175 million for balance sheet strengthening. Following the transaction, GFL retained an approximate 30.1% interest in GIP valued at approximately $895 million, while HPS Investment Partners and Patrick Dovigi maintained minority stakes. ECP identified a compelling M&A pipeline as a key driver of the transaction, positioning GIP for near-term acquisitions and margin enhancement. Energy Capital Partners brings extensive experience in waste and infrastructure services, having previously held a controlling stake in Wheelabrator Technologies and acquiring UK-based waste and recycling firm Biffa in 2023.

Who has invested in Green Infrastructure Partners?

1 investor has backed Green Infrastructure Partners across its funding rounds, including Energy Capital Partners.

Lead investors include Energy Capital Partners.


Green Infrastructure Partners Investors

Investors in Green Infrastructure Partners by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Green Infrastructure Partners

Green Infrastructure Partners has acquired 1 company to date.

Last acquisition by Green Infrastructure Partners was on March 1st 2023. Green Infrastructure Partners acquired Aecon Transportation East for $174M.


Latest Acquisitions by Green Infrastructure Partners

Aecon Transportation East
Description
Aecon Transportation East is an Ontario-focused division providing roadbuilding and infrastructure services to provincial governments, municipalities, and private developers. It handles paving, grading, bridge rehabilitation, and aggregate supply for highways, urban roads, and rural networks throughout Eastern Canada. The group supports projects like Highway 401 expansions and municipal street reconstructions with in-house equipment fleets and safety-certified crews.
HQ CountryCanada
HQ City
Toronto
Deal Date1 Mar 2023
Valuation$174M
EV/Revenue
EV/EBITDA

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Green Infrastructure Partners Competitors

Green Infrastructure Partners competitors include listed companies like Arcadis, Cleanaway, Legence and MYR Group, and private ones like FCC Medio Ambiente and Redwood Materials.

Public and private companies comparable to Green Infrastructure Partners
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ArcadisNetherlandsNetherlandsPublicly listed$5.6B$536M$4.2B1.2x
CleanawayAustraliaAustraliaPublicly listed$3.1B$520M$4.3B2.1x
LegenceUnited StatesUnited StatesPublicly listed$2.6B$156M$4.2B1.3x
MYR GroupUnited StatesUnited StatesPublicly listed$3.7B$233M$4.3B1.0x
FCC Medio AmbienteSpainMadridPrivate--$4.4B-
Redwood MaterialsUnited StatesCarson City, NVPrivate$200M-$6B30.0x

Green Infrastructure Partners Public Comps

Green Infrastructure Partners is no longer listed, but its public comps include Arcadis, Cleanaway, Legence, MYR Group, Comsys Holdings, CECO Environmental, Rail Vikas Nigam, Primoris Services, Weiming Group and Grupo Argos.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Arcadis$5.6B$536M1.0x1.2x10.2x8.9x
Cleanaway$3.1B$520M1.9x2.1x11.3x9.1x
Legence$2.6B$156M2.2x1.3x35.1x11.0x
MYR Group$3.7B$233M1.2x1.0x18.2x13.5x
Comsys Holdings$4.1B$410M0.9x0.9x9.2x9.1x
CECO Environmental$774M$129M6.3x4.1x37.8x26.9x
Rail Vikas Nigam$2.1B$146M2.3x2.1x32.8x52.8x
Primoris Services$7.6B$505M0.7x0.7x10.3x14.8x

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Common questions about Green Infrastructure Partners

When was Green Infrastructure Partners founded?Green Infrastructure Partners was founded in 2022.
Where is Green Infrastructure Partners headquartered?Green Infrastructure Partners is headquartered in Toronto, Canada.
Is Green Infrastructure Partners publicly listed?No, Green Infrastructure Partners was acquired by HPS Investment Partners in April 2022.
Who acquired Green Infrastructure Partners?Green Infrastructure Partners was acquired by HPS Investment Partners in April 2022.
What is Green Infrastructure Partners' valuation?Green Infrastructure Partners was last valued at $4.3B in its secondary sale in August 2025.
Who are Green Infrastructure Partners' investors?Green Infrastructure Partners' investors include Energy Capital Partners.
Which companies are comparable to Green Infrastructure Partners?Companies comparable to Green Infrastructure Partners include Arcadis, Cleanaway, Legence, MYR Group, FCC Medio Ambiente and Redwood Materials.
How many companies has Green Infrastructure Partners acquired?Green Infrastructure Partners has acquired 1 company, including Aecon Transportation East.
What was the largest acquisition by Green Infrastructure Partners?The $174M acquisition of Aecon Transportation East in March 2023 is the largest acquisition Green Infrastructure Partners has made to date.

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