07/17/2019 | Announcement
Ironwood Capital Makes Subordinated Debt Investment to Facilitate Purchase of Boyas Excavating
AVON, CONNECTICUT, July 17, 2019 – Ironwood Capital is pleased to announce an investment of subordinated debt to support the purchase of Boyas Excavating (“Boyas”) by the owners of Pete & Pete Container Services, Inc. (“Pete & Pete”). Based in Cleveland, Ohio, Boyas Excavating is the largest privately held construction and demolition landfill in Northeast Ohio. The combined companies will be the largest fully vertically integrated construction and demolition operation in the region, providing a complete suite of services to customers.
“Pete & Pete is an independent waste management company in the region and serves a base of blue-chip customers in Ohio,” noted Dickson Suit, managing director and head of the Environmental Services group at Ironwood Capital. “With the addition of Boyas, which operates the largest privately held landfill in Cuyahoga County, the Ristagno family continues to execute on its strategic acquisition plans. We’re pleased to be part of the Pete & Pete team.”
“Our goal is always to provide the best service to our customers. The acquisition of Boyas helps us do that with new service offerings, including disposal and aggregate sales. We’re excited to work with Ironwood Capital, given their experience in this industry,” shared Peter Jr. and Lisa Ristagno, co-owners of Pete & Pete.
About Ironwood Capital
Ironwood Capital is a Connecticut-based private equity firm that provides non-control growth capital to middle market companies, investing more than $750 million in over 130 companies over the past 17 years. Ironwood invests in the form of subordinated debt and preferred stock in amounts ranging from $8 million to $20 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions and buyouts. For more information, please visit https://ironwoodcap.com.
About Pete & Pete
Founded in 1997 and headquartered in Garfield Heights, Ohio, Pete & Pete Container Services, Inc. is a family-owned waste container and disposal service provider, providing construction and demolition, roll-off containers, municipal solid waste, front load containers and recycling services to residential, commercial and industrial customers, throughout Northeast Ohio. For more information, please visit https://peteandpeteinc.com.
Contact:
Carolyn C. Galiette
President and Chief Investment Officer
(860) 409-2105
galiette@ironwoodcap.com
Kathy Butler
Director of Marketing and Communications
(860) 409-2117
butler@ironwoodcap.com
