Chartwell is pleased to announce Blackstone has successfully completed a minority equity investment in Salas O’Brien, a leading employee-owned engineering and technical services firm.


Chartwell Advises Angelo’s Aggregate Materials on Sale to GFL Environmental

April 2024

Chartwell is pleased to announce the sale of Angelo’s Aggregate Materials (dba Angelo’s Recycled Materials), a Florida-based leading, vertically integrated provider of commercial waste management and recycled materials services to GFL Environmental Inc. (NYSE: GFL) (TSX: GFL). Angelo’s had been family-owned by its founders, the Iafrate family, since inception. Chartwell served as the exclusive financial advisor to Angelo’s, providing comprehensive and unbiased counsel to the Iafrate family for several years and throughout the duration of the successful M&A transaction process.

With the addition of Angelo’s, GFL will expand its geographic reach into central Florida, providing strategic access to—and a Class III landfill within—one of the fastest growing regions in the U.S. Additionally, Angelo’s will provide GFL with exposure to new revenue opportunities with a robust aggregate materials recycling business line.

Angelo’s engaged Chartwell to lead and execute the complete M&A transaction process. With Chartwell’s in-depth expertise, Chartwell provided objective counsel and facilitated negotiations on behalf of Angelo’s to ensure a successful outcome. Angelo’s was also represented by Holland & Knight LLP, acting as legal counsel to Angelo’s, and Jeffrey C. Shannon P.A., acting as legal counsel to the Iafrate family. The sale transaction was completed on April 1, 2024.

About Angelo’s Aggregate Materials

Based in Tampa, Florida, Angelo’s Aggregate Materials is a leading, vertically integrated provider of commercial waste management and recycled materials services in the greater Tampa Bay and Orlando areas. Angelo’s is the regional market leader in concrete and asphalt recycling and crushing, construction & demolition (“C&D”) waste management & collection services, and rolloff dumpster rentals. Angelo’s also owns and operates a Class III landfill strategically located between Tampa and Orlando.

About GFL Environmental Inc.

Headquartered in Vaughan, Ontario, GFL Environmental is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management, liquid waste management and soil remediation services through its platform of facilities throughout Canada and in more than half of the U.S. Across its organization, GFL has a workforce of more than 20,000 employees.

Chartwell Contact

For additional information on this transaction, please contact Greg Fresh or Matt Ewing. To learn more about Chartwell’s corporate finance capabilities, please contact Greg Fresh.

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