News

Oakleaf Waste Management, a Charterhouse Portfolio
Company, Combines Operation with Greenleaf Compaction

East Hartford, CT, July 26, 2004

Two of the nation's leading providers of specialty waste management services today announced a merger of their business operations - Greenleaf Compaction, Inc., a leading provider of waste management equipment rental services has merged with OAKLEAF Waste Management, a Charterhouse portfolio company, and one of the nation's fastest growing waste management services company. The combined entity will provide unmatched waste management solutions to a diverse customer base of retailers, mall operators and commercial and residential real estate managers.

Greenleaf, headquartered in Phoenix, Arizona, rents stationary compactors, containers, balers and other waste management and recycling equipment to commercial businesses and haulers. In addition, the company has developed a national network of waste equipment maintenance and repair services. Founded in 1989, Greenleaf has achieved impressive growth, generating a stable revenue stream from a diverse customer base of over 1,750 companies in 45 states. Greenleaf has over 3,000 units under rental agreements.

"Greenleaf's business is an outstanding fit with the waste management services we provide to our national base of customers," noted Jim Barnes, OAKLEAF's CEO. OAKLEAF currently has 70,000 locations under management and provides turn-key waste management services to primarily large, multi-location customers.

Greenleaf's Founder, Michael Macera, will continue to be Greenleaf's President and also has joined OAKLEAF's Board of Directors. "This is a merger that makes great sense, since the companies serve overlapping markets" noted Macera. "We expect that the resulting synergies will benefit our customers in significant ways due to forthcoming service efficiencies, economies of scale, and sole-sourcing capabilities," he added.

Jay Gates, a Charterhouse Group Partner, stated, "This combination is consistent with our strategy of bringing together dynamic entrepreneurs with focused business visions and properly capitalizing and guiding service company build-ups. We are very excited about working with the Mike Macera and the Greenleaf team."

OAKLEAF Waste Management, the nation's fastest growing waste management services company, has been in the Top 100 of the INC magazine 500 list for three years consecutively. OAKLEAF is also one of the fastest growing inner-city companies in the U. S. ranked number 10 on the 2004 ICIC/Inc. Magazine Inner City 100. OAKLEAF's current revenues are approaching $200 million.

About Charterhouse Group
Charterhouse Group, Inc. is a private equity firm with three decades of experience in building leading middle-market companies. Established in 1973, Charterhouse currently manages in excess of $1.4 billion in equity through several limited partnerships. Since its inception, Charterhouse has completed investments in over 80 platform companies with a focus in the business services, healthcare services and consumer sectors. For more information, please visit www.charterhousegroup.com.

About OAKLEAF Waste Management
Oakleaf Waste Management is an international waste management services company leveraging the buying power of 40,000+ locations throughout the United States, Canada, Puerto Rico and Mexico. The Company offers its clients savings through consolidated and electronic invoicing, cost avoidance, toll free 800 access for field locations with dedicated customer service and account management teams. Oakleaf is the leading consolidator of waste and recycling services, including waste and recycling equipment, management, contracting, audit and customized billing. Additionally, Oakleaf has fully automated its business relationships through its completely interactive web site that allows vendor/partners access to on-line bidding, contracting, invoice verification, contract status, electronic payment, and check/payment verification services. For more information, please visit www.oakleafwastemgmt.com.

Contacts:

Charterhouse Group:
David G. Hoffman, Partner, 212-584-3234