GW Equity Announces Majority Sale of EIL Environmental Services to Turtle Island Recycling Corporation

    Whitecastle Private Equity Partners Fund LP and Turtle Island
Shareholders Provide Equity Financing

    DALLAS, November 12 /CNW/ - GW Equity, a Dallas-based advisor to
privately held, middle-market clients for mergers, acquisitions, divestitures
and strategic growth, announced the majority sale of its client EIL
Environmental Services of Edmonton, Alberta, to Turtle Island Recycling
Corporation with equity financing from Whitecastle Private Equity Partners
Fund LP, a Toronto based private equity firm, and Turtle Island shareholders.
EIL Environmental is an environmental services company that specializes in the
transportation, disposal and recycling of hazardous waste materials.

    "EIL Environmental's management will remain significant shareholders and
continue to run its operations following the transaction," said Stephen
Crisham, GW Equity managing director in the transaction. "Therefore, finding
the right buyer was a crucial consideration. Turtle Island Recycling
Corporation demonstrated an understanding of the environmental services
industry and was active in a related sector of the recycling and waste
collection industry."

    "We look forward to working with Turtle Island Recycling and Whitecastle
to grow EIL Environmental into a major player in the hazardous waste
industry," said Gary Michalchuk, president of EIL Environmental. "Turtle
Island Recycling will provide strategic synergies and through both Whitecastle
and its other shareholders will provide the capital for necessary competitive
growth while EIL's experienced managers will continue to deliver superior

    After some time testing the market with selected local industry players,
EIL Environmental Services decided to retain GW Equity in November 2006 to
market the business. GW Equity marketed the company to strategic buyers and
private equity groups in the U.S. and Canada, resulting in several offers. GW
Equity negotiated the transaction with the ultimate buyer on behalf of its

    About EIL Environmental

    Founded in 1991, EIL is a well-regarded and rapidly growing environmental
services company, specializing in the transportation, disposal and recycling
of a diverse range of hazardous waste materials. The company's
state-of-the-art facilities, vehicles and equipment enable the turnkey
handling of materials such as oil, glycol, paint, chlorinated and
non-chlorinated solvents, PCBs (polychlorinated biphenyl) and other hazardous

    EIL is headquartered in Edmonton, Alberta, and maintains its waste
storage and distillation facilities in nearby Onoway. The company provides its
services to customers throughout Northern Alberta and Saskatchewan, including
petrochemical companies, paving contractors, government entities as well as
the oil and gas industry.

    About Turtle Island Recycling Corporation

    Turtle Island Recycling is one of the largest recycling and waste
management companies in Canada. It. operates a fleet of more than 130
collection vehicles, employees in excess of 250 people and services over 2,000
commercial customers and in excess of 200,000 residential homes. Turtle Island
Recycling's main processing facility is located in downtown Toronto and it has
additional facilities in Aurora and Leamington, Ontario.

    About Whitecastle Private Equity Partners Fund LP

    Whitecastle Private Equity Partners Fund LP is a Toronto-based investment
fund focused on providing capital and expertise for growth and buyouts in
small and medium-sized enterprises. Whitecastle targets opportunities in
certain key business sectors such as food services, recycling and waste
management, technology, health care services and products, financial services
and manufacturing.

    About GW Equity

    GW Equity, a Generational Wealth and Equity company, assists privately
held and middle-market clients in completing mergers, acquisitions,
divestitures and strategic growth initiatives. GW Equity has more than three
hundred professional advisors nationwide and is headquartered in Dallas, with
affiliate offices in New York, Chicago and Irvine, California. For more
information, contact GW Equity at (877) 213-1792 or, or

For further information:

For further information: Edelman Media: Erica Studl, 312-240-3364

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