AeroAggregates plans $24M expansion
AeroAggregates, Eddystone, Pennsylvania, has announced that it closed on a $24 million growth equity investment from Valterra Partners, a New York-based private equity firm. The company says the investment will fund the expansion of its existing plant in Eddystone as well as the construction of two additional facilities in New England and the Southeast in 2020.
Founded in 2012 by CEO Archie Filshill, AeroAggregates is a vertically integrated manufacturer of lightweight foamed glass aggregate (FGA), which is used primarily in the infrastructure, construction and engineering industries. Aero’s products are manufactured in the U.S. from 100 percent post-consumer recycled glass, with each kiln saving more than 140 million glass bottles from landfill annually.
Aero’s material has been approved for road projects by several state transportation departments, following “years of rigorous testing and successful projects at the county, state and federal level,” the company says.