Birch Hill-backed Terrapure Environmental mulling IPO: report

Terrapure Environmental Ltd, a Toronto-based provider of industrial waste management, environmental and recycling services, is exploring an initial public offering in Canada, according to a report by Bloomberg.

The company is working with banks on the potential IPO, which could raise about $300 million, the report said. A filing could take place as early as November.

Terrapure is backed by Canadian private equity firm Birch Hill Equity Partners. Birch Hill launched the company following the 2015 acquisition of Newalta Corp‘s industrial division for $300 million.

In June, Terrapure acquired the Canadian industrial services and waste management operations of Envirosystems Inc, a portfolio company of TorQuest Partners.