Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>GFL Environmental has suddenly become one of the more unusual prizes in the private equity world.</li><li>The waste-management company rose after reports indicated that two powerful investment groups had submitted takeover offers, with one consortium involving KKR, Blackstone and Energy Capital Partners and another including Brookfield Asset Management and IFM Investors.</li><li>Reported discussions have centered on a potential price toward the upper end of a $50-$55-per-share range, while strategic buyers have also shown interest in individual markets or regional assets.</li></ul>

GFL Environmental has suddenly become one of the more unusual prizes in the private equity world.The waste-management company rose after reports indicated that two powerful investment groups had submitted takeover offers, with one consortium involving KKR, Blackstone and Energy Capital Partners and another including Brookfield Asset Management and IFM Investors.Reported discussions have centered on a potential price toward the upper end of a $50-$55-per-share range, while strategic buyers have also shown interest in individual markets or regional assets.

GFL Environmental Could Spark A $55-Per-Share Bidding War Between Private Equity Giants!

<ul><li>GFL Environmental has become the center of an unusual takeover contest after reportedly attracting preliminary interest from at least six private-equity groups.</li><li>Waste collection rarely generates the excitement associated with technology or artificial intelligence, yet GFL offers something financial buyers value highly: recurring demand, pricing power, hard-to-replicate infrastructure and substantial opportunities to increase cash flow.</li><li>The company has confirmed that multiple parties submitted unsolicited expressions of interest, prompting its board to form a special committee and examine possible outcomes.</li></ul>

GFL Environmental has become the center of an unusual takeover contest after reportedly attracting preliminary interest from at least six private-equity groups.Waste collection rarely generates the excitement associated with technology or artificial intelligence, yet GFL offers something financial buyers value highly: recurring demand, pricing power, hard-to-replicate infrastructure and substantial opportunities to increase cash flow.The company has confirmed that multiple parties submitted unsolicited expressions of interest, prompting its board to form a special committee and examine possible outcomes.

GFL Environmental Has Six Buyers Circling—What Do They Know?

<ul><li>GFL Environmental is considering a potential move to go private after receiving preliminary interest from buyout firms, making the North American waste-management company one of the more closely watched takeover stories in the environmental-services sector.</li><li>The company has reportedly been speaking with advisers about its options, although deliberations remain at an early stage and there is no certainty that any transaction will happen.</li><li>A deal would not be simple.</li></ul>

GFL Environmental is considering a potential move to go private after receiving preliminary interest from buyout firms, making the North American waste-management company one of the more closely watched takeover stories in the environmental-services sector.The company has reportedly been speaking with advisers about its options, although deliberations remain at an early stage and there is no certainty that any transaction will happen.A deal would not be simple.

GFL Environmental: This Garbage Empire May Go Private After Buyout Firms Circle!

<ul><li>GFL Environmental Inc. has entered a transformative phase, marked by its definitive agreement to acquire SECURE Waste Infrastructure Corp. in a transaction valued at approximately $6.4 billion.</li><li>The deal, structured as 80% equity and 20% cash, offers a 23% premium to SECURE shareholders and reflects GFL’s broader strategy of scaling its solid waste platform through disciplined, accretive acquisitions.</li><li>This move comes shortly after GFL achieved a milestone 30% adjusted EBITDA margin and materially deleveraged its balance sheet, positioning it for a new wave of expansion.</li></ul>

GFL Environmental Inc. has entered a transformative phase, marked by its definitive agreement to acquire SECURE Waste Infrastructure Corp. in a transaction valued at approximately $6.4 billion.The deal, structured as 80% equity and 20% cash, offers a 23% premium to SECURE shareholders and reflects GFL’s broader strategy of scaling its solid waste platform through disciplined, accretive acquisitions.This move comes shortly after GFL achieved a milestone 30% adjusted EBITDA margin and materially deleveraged its balance sheet, positioning it for a new wave of expansion.

GFL Environment Acquisition Of SECURE Waste Infrastructure: The $6.4B Deal That Could Unlock Massive Synergies!

<ul><li>GFL Environmental Inc. has entered 2026 with unusually strong financial momentum and a more flexible balance sheet just as it moves to deepen its position in one of the most attractive regional waste markets in North America.</li><li>After reporting record 2025 adjusted EBITDA margins of 30%, guiding to further margin expansion in 2026, and signaling capacity for another outsized year of acquisitions, GFL has now acquired Frontier Waste Solutions, a Dallas-based operator with 24 sites across Texas, a fleet of more than 650 vehicles, and nearly 1,000 employees.</li><li>The transaction fits squarely within management’s stated strategy of deploying capital into tuck-in and density-enhancing assets located in markets where GFL already has infrastructure.</li></ul>

GFL Environmental Inc. has entered 2026 with unusually strong financial momentum and a more flexible balance sheet just as it moves to deepen its position in one of the most attractive regional waste markets in North America.After reporting record 2025 adjusted EBITDA margins of 30%, guiding to further margin expansion in 2026, and signaling capacity for another outsized year of acquisitions, GFL has now acquired Frontier Waste Solutions, a Dallas-based operator with 24 sites across Texas, a fleet of more than 650 vehicles, and nearly 1,000 employees.The transaction fits squarely within management’s stated strategy of deploying capital into tuck-in and density-enhancing assets located in markets where GFL already has infrastructure.

GFL Environmental Takeover Of Frontier Could Reshape The Waste Industry Landscape!

Canada

GFL Environmental Inc. provides waste management services. The Company offers identification, collection, transport, processing, recycling, and disposal of broad range of hazardous and non-hazardous liquid waste. GFL Environmental serves the industrial, commercial, municipal, and residential sectors in Canada.

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GFL Environmental (GFL US)

GFL Environmental Has Six Buyers Circling—What Do They Know?

GFL Environmental has become the center of an unusual takeover contest after reportedly attracting preliminary interest from at least six...

Baptista Research

GFL Environmental: This Garbage Empire May Go Private After Buyout Firms Circle!

GFL Environmental is considering a potential move to go private after receiving preliminary interest from buyout firms, making the North American...

Baptista Research

GFL Environment Acquisition Of SECURE Waste Infrastructure: The $6.4B Deal That Could Unlock Massive Synergies!

GFL Environmental Inc. has entered a transformative phase, marked by its definitive agreement to acquire SECURE Waste Infrastructure Corp. in a...

Baptista Research

GFL Environmental Takeover Of Frontier Could Reshape The Waste Industry Landscape!

GFL Environmental Inc. has entered 2026 with unusually strong financial momentum and a more flexible balance sheet just as it moves to deepen its...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

GFL Environmental Could Spark A $55-Per-Share Bidding War Between Private Equity Giants!

GFL Environmental has suddenly become one of the more unusual prizes in the private equity world. The waste-management company rose after reports...

Baptista Research

GFL Environmental Has Six Buyers Circling—What Do They Know?

GFL Environmental has become the center of an unusual takeover contest after reportedly attracting preliminary interest from at least six...

Baptista Research

GFL Environmental: This Garbage Empire May Go Private After Buyout Firms Circle!

GFL Environmental is considering a potential move to go private after receiving preliminary interest from buyout firms, making the North American...

Baptista Research

GFL Environment Acquisition Of SECURE Waste Infrastructure: The $6.4B Deal That Could Unlock Massive Synergies!

GFL Environmental Inc. has entered a transformative phase, marked by its definitive agreement to acquire SECURE Waste Infrastructure Corp. in a...

Baptista Research

GFL Environmental Takeover Of Frontier Could Reshape The Waste Industry Landscape!

GFL Environmental Inc. has entered 2026 with unusually strong financial momentum and a more flexible balance sheet just as it moves to deepen its...

Baptista Research