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Quarton Partners advises Choice Environmental Services in a recapitalization with Penfund.

Transaction

Choice Environmental Services, Inc. received a $15,000,000 junior capital investment from Penfund. Quarton Partners acted as exclusive financial advisor to Choice in managing this transaction.

Company

Choice Environmental Services, Inc. is a residential, commercial and industrial solid waste management company headquartered in Fort Lauderdale, Florida. Choice provides solid waste and recycling collection, transportation, processing, and disposal services to approximately 70,000 customers located in Southern Florida. Augmenting its waste collection operations, Choice operates one of the largest materials recovery facilities in the state of Florida.

Buyer / Investor

Penfund is a leading North American private equity firm specializing in providing junior capital to middle market companies throughout North America. Penfund provides second lien, high yield, mezzanine and unitranche debt, control and minority equity, as well as bridge facilities, standby lines, underwritten facilities and financial guarantees. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund IV which has $460 million of committed capital. Penfund manages institutional funds sourced from North American pension funds, insurance companies, family offices and banks and has invested more than $2.5 billion in over 220 companies since its establishment in 1979.

Contact

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Kurt L. Haras

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Alexander J. Schroeder

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