Waste and Recycling Powerhouse LRS Completes Monumental Acquisition of Regional Leader Michiana Recycling & Disposal and Modern Waste Systems

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Jan 09, 2023, 12:18 ET

Acquisitions are LRS' largest to-date, furthering the company's position as national waste and recycling leader as it marks the start of its 10-year anniversary

CHICAGO, Jan. 9, 2023 /PRNewswire/ -- LRS, among the nation's leading independent waste, recycling and portable services providers, today announced its largest acquisitions to date: Michigan-based Michiana Recycling & Disposal and Modern Waste Systems. These acquisitions are effective immediately and financial terms were not disclosed.

Strategic and expansive, these integrated platform acquisitions bring three state-of-the- art waste and recycling transfer facilities along with dense collections base across 100,000 residential, 9,000 commercial and 25 municipal-based customers covering the greater Michigan and Indiana region.

The consolidated operations are supported by more than 200 dedicated and long- tenured employees from Michiana Recycling and Disposal and Modern Waste Systems with all key management continuing as marketplace leaders.

LRS President and CEO Alan T. Handley heralded this transaction as a pivotal moment in the company's trajectory to becoming one of the national leaders in waste and recycling services: "We are honored today to announce the acquisition of Michiana Recycling & Disposal and Modern Waste Systems. LRS remains committed to providing service excellence to all communities and customers alike. I am incredibly proud to welcome the hard-working, dedicated and talented employees to the LRS family and look forward to carrying the legacy of these great businesses into the future."

CEO and industry expert Jon Groot highlighted the decision to sell the business to LRS. "Throughout the transaction, it became clear LRS puts its employees and customers first. I look forward to the team's continued success in providing a great place to work and exceptional service to the communities and employees served throughout Michigan and Indiana. LRS brings a lot to the table for the continued growth and development of not only the business and market area as a whole, but also for the employees. I'm wildly confident they will continue their course of being an industry leader in waste and recycling."

This acquisition marks the start of LRS' 10-year anniversary, following an historic 2021 and 2022 driven by geographic expansion, continued investment in core markets and M&A growth across 36 transactions.

About LRS

LRS is North America's fifth largest privately-held waste and recycling company. Since 2013, LRS has specialized in providing comprehensive, fully integrated waste diversion and recycling services for millions of residential and commercial customers across ten states: Illinois, Wisconsin, Iowa, Indiana, Michigan, Minnesota, Kansas, Arkansas, Tennessee and Mississippi. Diversified and growing exponentially, LRS also offers affordable roll-off container services, C&D recycling, portable restroom rentals, municipal and commercial street sweeping, mulch distribution, on-site storage, and temporary fencing.

LRS owns and operates 85 facilities, safely deploys a fleet of fuel-efficient trucks, and thrives on the passion of 2,500 full-time employees. The company processes more than 3.8 million tons of waste each year, providing safe, innovative, sustainability-driven services to clean and beautify the cities, neighborhoods and communities it serves. To learn more visit www.LRSrecycles.com

Contacts:
SVP, Sales and Marketing - Emily Olson-Torch, [email protected]
Director of M&A - Ryan McGuire, [email protected]

SOURCE LRS