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- Green Infrastructure Partners
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
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
Website
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.
| Acquirer | Date | Type |
|---|---|---|
| 25 Apr 2022 | PE 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
| Date | Stage | Valuation |
|---|---|---|
| Aug 2025 | Secondary | $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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2025 | Secondary | Energy Capital Partners (lead) | $562M | $4.3B | Green 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Green Infrastructure Partners investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | Toronto |
| Deal Date | 1 Mar 2023 |
| Valuation | $174M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Green Infrastructure Partners acquisitions and their M&A valuation multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $5.6B | $536M | $4.2B | 1.2x | ||
| Publicly listed | $3.1B | $520M | $4.3B | 2.1x | ||
| Publicly listed | $2.6B | $156M | $4.2B | 1.3x | ||
| Publicly listed | $3.7B | $233M | $4.3B | 1.0x | ||
| Private | - | - | $4.4B | - | ||
| Private | $200M | - | $6B | 30.0x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5.6B | $536M | 1.0x | 1.2x | 10.2x | 8.9x | |||
| $3.1B | $520M | 1.9x | 2.1x | 11.3x | 9.1x | |||
| $2.6B | $156M | 2.2x | 1.3x | 35.1x | 11.0x | |||
| $3.7B | $233M | 1.2x | 1.0x | 18.2x | 13.5x | |||
| $4.1B | $410M | 0.9x | 0.9x | 9.2x | 9.1x | |||
| $774M | $129M | 6.3x | 4.1x | 37.8x | 26.9x | |||
| $2.1B | $146M | 2.3x | 2.1x | 32.8x | 52.8x | |||
| $7.6B | $505M | 0.7x | 0.7x | 10.3x | 14.8x | |||
This data is available for Pro users. Sign up to see all Green Infrastructure Partners competitors and their valuation data. Start Free Trial | ||||||||
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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