Kelso Makes Pipe Investment In Capital Environmental

Date: May 8, 2003

Source: News Room

New York buyout firm Kelso & Co. has made a $53.4 million PIPE (private investment in a public entity) investment in Canadian trash services company Capital Environmental Resource Inc. to finance a landfill acquisition in Florida. Capital has completed a private placement with Kelso consisting of 55,000 shares of cumulative preferred stock and warrants for 7.15 million shares of common stock. The capital will help fund the $71 million acquisition of a 1,100-acre Florida landfill site being developed to serve Osceola County and the greater Orlando area. The landfill has a permitted capacity of 24 million tons.
More information: www.kelso.com.

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