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CHARTERHOUSE ENVIRONMENTAL CAPITAL ACQUIRES AMERICAN DISPOSAL SERVICES; ACQUISITION IS FIRST FOR ENVIRONMENTAL CAPITAL GROUP

 NEW YORK, Feb. 18 /PRNewswire/ -- Charterhouse Environmental Capital, an affiliate of Charterhouse Group International, Inc. a New York-based privately-owned investment firm, today announced the acquisition of 70 percent of the common stock of American Disposal Services, Inc., a non-hazardous solid waste company. Terms were not disclosed.
 David C. Stoller, chairman of Charterhouse Environmental Capital said, "American Disposal has a superb management team, and gives us a solid platform from which to grow the company rapidly."
 Mr. Stoller indicated that the acquisition of American Disposal is part of Charterhouse Environmental Capital's overall strategic plan. "Negotiations are well under way with several other acquisition candidates."
 Merril Halpern, chairman of Charterhouse Group International Inc., said that the investment in American Disposal was its inaugural investment in the environmental sector, and that the firm is currently considering additional investments in the areas of industrial waste treatment, remediation, and water treatment. Mr. Halpern stated, "We continue to be very enthusiastic about the investment opportunities in the environmental sector, as there is a heightened awareness of the need to reduce environmental problems throughout American industry. The acquisition of American Disposal gives us a great start."
 Charterhouse Group International, Inc., formed in 1973, has originated and managed over 50 equity investments in a broad range of established U.S. companies. Charterhouse has the backing of an international network of institutional partners who have committed more than $550 million to the firm's investing activities. The firm is the controlling shareholder and/or principal investor in 15 industrial companies, primarily in the middle market, whose total revenues exceed $2 billion. Among the industries Charterhouse has invested in are: food products, industrial batteries, beverages, watches, electronic components, auto parts and steel, to name a few.
 -0- 2/18/93
 /CONTACT: David C. Stoller or Scott H. Flamm of Charterhouse Environmental Capital, 212-421-3125, or Jeffrey E. Taufield or Mickey Mandelbaum of Kekst and Company, 212-593-2655, for Charterhouse Environmental Capital/


CO: Charterhouse Environmental Capital; American Disposal Services,
 Inc. ST: New York IN: SU: TNM


KD-LR -- NY069 -- 7997 02/18/93 14:50 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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