SPOKANE (Scrap Monster): Chicago-based Lakeshore Recycling Systems (LRS) has expanded its footprints in Chicago area through acquisition of K. Hoving Companies, a full-service waste management, recycling and dumpster rental company based in West Chicago, Illinois. With this acquisition, LRS has now become the largest private waste company in Illinois. The acquisition will be in effect immediately. However, the financial terms of the deal were not disclosed.
The acquisition will help LRS to raise its annual revenues to nearly $170 million and total workforce to 720 full-time employees. The milestone deal will increase the amount of inbound waste under its control to nearly 2.2 million tons per year. Earlier in March 2016, LRS had acquired Northbrook, Illinois-based C&D Recycling which specializes in sorting C&D material, thereby propelling its growth in Northern Illinois markets.
The recent acquisitions have contributed to the company’s growth during the past few years. In addition, the introduction of innovative programs, such as Highland Park’s PAYT program using RFID tags, has helped LRS stand out from its competitors in the area.
Alan Handley, LRS’ CEO welcomed all K. Hoving employees and customers to the LRS family. He noted that the acquisition will strengthen the company’s operations and service footprint in DuPage County. Further, it will contribute immensely to the continued growth in the competitive Chicagoland waste and recycling market. Handley stated that the company is looking at additional acquisition opportunities. The company, with the strong support of its passionate employees, will continue to be a disruptive force in the Illinois waste and recycling market.
Meantime, Ken Hoving, Founding executive, K. Hoving Companies stated that its employees are thrilled to join LRS. Also, the deal is expected to expand our operating efficiency and services to cater to its growing customer base. The partnership with LRS is in the best long-term interest of its customers, Hoving added.
Recently, LRS was named the winner of the 2016 Environmental Leader (EL) Product & Project Awards, in recognition of its sustainable business model. LRS had initiated various sustainability measures at its facilities during recent times. It had made significant investment in opening of the new 40,000 square-foot state-of-the-art single-stream recycling facility at Forest View, Illinois. The company has also incorporated innovative technologies to ensure service delivery accuracy.
Headquartered in Morton Grove, Ill., Lakeshore Recycling Systems is Chicago’s leading recycling and waste diversion services provider. LRS provides recycling and industry-leading waste diversion programs, affordable roll-off container services and comprehensive waste removal to businesses and residential homeowners. In addition to serving all 658 schools in the Chicago Public Schools system, LRS actively participates in the City of Chicago’s Blue Cart Residential Recycling Program. LRS also is the preferred recycling and waste management partner to Skokie, Evanston, Riverwoods, Bannockburn, Golf and Deerfield. With this acquisition, LRS now operates seven MRFs throughout the Midwest.