Patrick Dovigi

Last updated
Patrick Dovigi
Patrick-Dovigi.jpg
Born (1979-07-02) July 2, 1979 (age 45)
Sault Ste. Marie, Ontario, Canada
Alma mater Ryerson University
Occupation(s)Businessman, entrepreneur
Known forFounder and Chief Executive Officer of Green For Life Environmental Inc. (GFL)

Patrick Dovigi is a Canadian former hockey goaltender, entrepreneur, businessman, founder, president, and chief executive officer of Canadian environmental services company, Green For Life Environmental Inc. (GFL). Under Dovigi's leadership, GFL Environmental has grown to have a total enterprise value of $5.13 billion as of April 2018. [1] [2] In 2017, Dovigi's net worth was estimated at $1.08 billion. [3] In 2018, GFL merged with Waste Industries, [4] increasing Dovigi's net worth to more than $1 billion.

Contents

Early life and education

Dovigi grew up in Sault Ste. Marie, Ontario. [5] As a boy, Dovigi demonstrated a talent for hockey goaltending, an interest supported by his family. Dovigi attended Ryerson University in Toronto in 2000, studying business management at the school. [6]

Hockey career

Dovigi played minor league hockey in Canada, tending goal for the Ontario Hockey League (OHL)'s Erie Otters in parts of three seasons from 1996 to 1999. [7] Dovigi also played as a goalie for Toronto's St. Michael's Majors in the team's 1998 to 1999 season. [8]

In 1997, Dovigi followed his cousins into the National Hockey League (NHL) in Canada when he was drafted 41st as a goalie by the Edmonton Oilers in that year's entry draft. [5] [9] Although passionate about playing hockey, a teammate of Dovigi's recalls that, "We were thinking only about hockey. His [Dovigi's] mind was somewhere else". [8]

Early career

While playing minor league hockey, Dovigi began gaining business and entrepreneurial experience. From 1999 to 2002, Dovigi served as vice president of Right Lease, a construction equipment and automotive leasing company. In 2002, Dovigi gained exposure to corporate finance when he joined Brovi Investments. It was while working at Brovi Investments that Dovigi gained his first experience in waste management. [5]

In 2004, a waste transfer station in Maple, Ontario suffered a fire. Brovi Investments had a mortgage on this waste transfer station and Dovigi was assigned to oversee the station's clean-up. [10]

Dovigi then established a new company and worked with the municipality of Vaughan and the environment ministry for two years to return the operating license to the waste transfer station. [10]

In 2004, Dovigi took a seat on the board of NGTV, otherwise known as "No Good TV", which was a YouTube music and celebrity channel and an organization chaired by Kiss bassist and vocalist Gene Simmons. [6]

Green For Life Environmental Inc.

In 2007, Dovigi founded Green For Life Environmental Inc. He would go on to acquire several local haulers, including National Waste Services. [5] [8] GFL later won a $186-million, nine-year contract to manage and collect the residential waste of 155,000 homes in the west end of Toronto. [8]

In 2016, GFL gained an equity investment from Macquarie Infrastructure Partners, which raised the total value of GFL to roughly $2.4 billion. [11]

In April 2018, GFL negotiated a recapitalization with BC Partners and the Ontario Teachers' Pension Plan at $5.125 billion. [12] In October 2018, GFL merged with Waste Industries in a deal that valued Waste Industries at US$2.825 billion (approximately C$3.65 billion). The merger doubled GFL's presence in the United States. [4]

Dovigi continues to serve as GFL's president and chief executive officer.

Recognition and community involvement

In 2017, Dovigi was named Entrepreneur of the Year in the Power & Utilities & Environment sector at the EY Entrepreneur of the Year Ontario Awards. [13] In 2018, he appeared on the Canadian Business - Canada's Richest People 2018 list at #97 with a listed net worth of $1.08 billion. [3]

In honour of his hometown, in 2018 Dovigi acquired naming rights for GFL for the home of the Soo Greyhounds from the city of Sault Ste. Marie. The arena will be called the GFL Memorial Gardens for the next 10 years. [14] Also in 2018, Dovigi was elected to the Board of Directors of the Environmental Research & Education Foundation (EREF). [15]

Dovigi has made financial donations to organizations that include Camp Oochigeas, [16] Habitat for Humanity, [17] Sunnybrook Foundation, The National Ballet of Canada. [18]

In June 2019, Dovigi donated $5 million to fund a new sports medicine clinic, called The Dovigi Family Sports Medicine Clinic, which will be built in partnership with Sinai Health in Toronto. [19]

Other organizational work

Dovigi serves as a director on the board of directors for the Ontario Waste Management Association (OWMA). [20]

Personal life

Dovigi lives in Toronto with his wife and five children and has a second home in Muskoka, Ontario. [21]

In 2021, an entity tied to Dovigi purchased an apartment for $4.5 million on the 38th floor of 432 Park Avenue, a luxury development in New York City. [22] In December 2022, Dovigi sold his Aspen, Colorado mansion for $55 million, after one year of ownership. [23]

In May 2023, Dovigi purchased €330 million superyacht Ahpo from fellow Canadian billionaire Michael Lee-Chin. [24] Upon his purchase, it was renamed Lady Jorgia. [25] It made its first high-profile appearance since Dovigi's purchase at the 2023 Monaco Grand Prix. [26]

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References

  1. ↑ Nelson, Jacqueline (June 3, 2018). "Top of the heap: How BC Partners pulled off the biggest private buyout in Canada with GFL deal". The Globe and Mail. Retrieved October 4, 2018.
  2. ↑ "GFL Environmental Inc. announces $5.125 Billion recapitalization with new investors led by BC Partners and their partner OTPP". April 22, 2018. Retrieved October 4, 2018.
  3. 1 2 "Canada's Richest People 2018". Canadian Business. November 9, 2017. Retrieved October 3, 2018.
  4. 1 2 "GFL Environmental buying U.S. company Waste Industries in deal valued at $3.65B". CTV News. October 10, 2018. Retrieved October 26, 2018.
  5. 1 2 3 4 Lorinc, John (October 26, 2011). "Toronto's new garbage magnate stickhandles his way to the front". The Globe and Mail. Retrieved March 3, 2016.
  6. 1 2 Johnston, Malcolm (January 31, 2012). "Q&A: Patrick Dovigi, the NHL-goalie-turned-entrepreneur who won Toronto's lucrative garbage contract". Toronto Life. Retrieved March 3, 2016.
  7. ↑ Roper, Paul (March 28, 2012). "Looking back at the 1996 and 1997 drafts". ottershockey.com. Retrieved March 4, 2016.
  8. 1 2 3 4 Kari, Shannon (February 3, 2015). "Business is picking up at garbage upstart Green for Life". The Globe and Mail. Retrieved March 1, 2016.
  9. ↑ Gonsalves, Kevin (October 10, 2001). "Hockey team gets offensive". The Eyeopener. Retrieved March 2, 2016.
  10. 1 2 Sue-Ann, Levy (October 30, 2011). "Levy: Talkin' trash". The Toronto Sun. Retrieved March 2, 2016.
  11. ↑ Messenger, Ben (February 22, 2016). "GFL Environmental Completes CAD$800m Acquisition of Matrec". Waste Management World. Retrieved March 2, 2016.
  12. ↑ Rosengren, Cole (April 14, 2018). "GFL to stay private amid IPO rumors with $5B recapitalization deal". Waste Dive. Retrieved October 4, 2018.
  13. ↑ "GFL Founder & CEO Patrick Dovigi Wins Prestigious Ernst & Young Award". October 25, 2017. Retrieved October 5, 2018.
  14. ↑ Taylor, Darren (September 12, 2018). "We can officially call it 'The Gardens' again". Sootoday.com. Retrieved October 5, 2018.
  15. ↑ "Marty Bryant, Patrick Dovigi and Tara Hemmer Elected to EREF Board of Directors". wasteadvantagemag.com. February 22, 2018. Retrieved October 5, 2018.
  16. ↑ "Individual Donors" . Retrieved October 5, 2018.
  17. ↑ "Annual Report 2017" (PDF). Retrieved October 5, 2018.
  18. ↑ "Annual Report" (PDF). Retrieved October 5, 2018.
  19. ↑ "Patrick Dovigi Donates $5M To Fund New Dovigi Family Sports Medicine Clinic". Value Walk. June 14, 2019. Retrieved June 26, 2019.
  20. ↑ "OWMA" . Retrieved March 3, 2016.
  21. ↑ Kamping-Carder, Leigh (September 1, 2016). "Muskoka, Canada's Vacation-Home Haven, Gets a Modern Makeover". The Wall Street Journal. Retrieved October 3, 2018.
  22. ↑ Clarke, Katherine. "Exclusive | A Mega-Lawsuit, a Rush of Listings and Price Cuts Galore: What's Going on at 432 Park?". WSJ. Retrieved 2024-05-30.
  23. ↑ Hourie, Ilya (2022-12-31). "Patrick Dovigi sells Aspen home for $55M". The Real Deal. Retrieved 2023-05-27.
  24. ↑ "€330M Lürssen Ahpo sold in three months and renamed Lady Jorgia". www.boatinternational.com. Retrieved 2023-05-27.
  25. ↑ "LADY JORGIA Yacht • Patrick Dovigi $350 Million Superyacht • Lurssen • 2021". SuperYachtFan. Retrieved 2023-05-27.
  26. ↑ "The coolest yachts in town for the 2023 Monaco Grand Prix". www.boatinternational.com. Retrieved 2023-05-27.
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