OCTOBER 2010
                                        

Penfund invests in Florida waste hauling business

Penfund, an independent provider of junior capital to middle market companies, announced a $15 million investment in Choice Environmental Services Inc. The terms were not disclosed.

Headquartered in Fort Lauderdale, Florida, Choice is one of the largest independent waste collectors in the southeastern United States. Since its founding in 2004, Choice has won several significant municipal collection contracts and has successfully completed multiple tuck-in acquisitions. The company provides collection, transfer station and material recovery services to a diverse base of customers throughout South and Central Florida.