LRS recently closed its largest acquisitions to date, marking an expansion for the company’s waste and recycling presence in Michigan and Indiana. Financial terms were not disclosed for either deal.
The two longstanding Michigan-based companies, Michiana Recycling & Disposal Services and Modern Waste Systems, are estimated to service a combined 100,000 residential, 9,000 commercial and 25 municipal customers. Together, their operations employ more than 200 people, and operate an estimated 125 trucks.
“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,” said LRS CEO Alan Handley in a statement.
Michiana has operated in Michigan and Indiana for decades, providing a range of residential, commercial and roll-off services. The company previously touted its commingled collection model, in which one truck picks up recyclables in special bags along with refuse. The company operates a MRF in Niles, Michigan, where recyclables are sorted and refuse is loaded onto transfer trailers for disposal.
“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, said Michiana CEO Jon Groot in a statement. “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.”
Modern, which also operates in southern Michigan, has provided a similar range of collection services over its own multi-decade history. The company operates two transfer stations in the region.
LRS previously expanded into the two states with acquisitions for its portable restroom business, as well as the purchase of Junoll Services, an Indiana-based roll-off and transfer station company. These latest transactions make LRS a much larger waste and recycling presence in a region with multiple other major competitors that have done recent acquisitions of their own.
The deals are among the latest in an ongoing period of growth for LRS, which launched in the Chicago area in 2012. LRS is now backed by a division of Macquarie Asset Management and has operations in 10 states. The Illinois-based company closed 36 transactions during 2021 and 2022.