CHICAGO, IL--(Marketwired - January 04, 2017) - Lakeshore Recycling Systems (LRS), the Midwest's leading independent recycling and waste diversion services provider, today announced it has acquired K. Hoving Companies, a full-service waste management, recycling and dumpster rental company based in West Chicago, Ill. As a result of the acquisition, LRS is now Illinois' largest private waste company and expands its system-wide services to include street sweeping and portable restrooms as part of a new Temporary Services Division. Financial terms were not disclosed and the acquisition is effective immediately.
"This milestone acquisition strengthens the LRS operations and service footprint in DuPage County, and positions us well for continued growth in the competitive Chicagoland waste and recycling market," said LRS Chief Executive Officer Alan T. Handley. "LRS and K. Hoving employees are passionate about fostering innovative solutions that fuel the circular economy, and I personally welcome all K. Hoving employees and customers to the LRS family."
K. Hoving Companies has built a strong reputation as a full-service waste and recycling company offering services in dumpster rental, roll-off, commercial, construction recycling, portable restrooms and street sweeping in DuPage County and throughout greater Chicagoland. Moreover, K. Hoving Companies operates the only recycling facility in Chicago that is nationally certified by the Recycling Certification Institute. Both LRS and K. Hoving Companies have built a solid foundation of customer service excellence that is complemented by a relentless commitment to environmental sustainability and a zero landfill policy, making the acquisition strategically compelling and highly accretive to LRS.
K. Hoving Companies founding executives, Ken Hoving and KJ Loerop will lead the newly-formed LRS Temporary Services Division with Loerop serving as the division's new Vice President. The Temporary Services Division will serve individuals and companies seeking roll-off services, portable toilets, on-site storage and street or job site sweeping.
"The combination of K. Hoving and LRS is in the best long-term interest of our customers and employees and we are thrilled to join LRS in expanding both our service offerings and operations capacity to accommodate our growing customer base," Hoving said.
With the addition of K. Hoving Companies, LRS now operates seven Material Recovery Facilities (MRFs) throughout the Midwest, increasing annual revenues to nearly $170 million and its workforce to over 720 full-time employees. The combined companies will now control nearly 20% of Chicagoland roll-off market and will be the second largest portable toilet business in Illinois. Further, the acquisition increases the amount of inbound waste under its control to nearly 2.2 million tons per year.
About Lakeshore Recycling Systems Serving Chicagoland for nearly 20 years, Lakeshore Recycling Systems (LRS) is the largest private waste company in Illinois, specializing in recycling and waste diversion programs, affordable roll-off container services and comprehensive waste removal to Chicagoland businesses and residential homeowners. LRS owns and operates seven Material Recovery Facilities (MRFs), a fleet of fuel-efficient natural gas-powered trucks and is run by over 720 committed full-time employees. LRS is a recipient of Chicago Public Schools' coveted Best Partnership Award, is ranked #35 on Waste360's 2016 Top 100 Waste and Recycling Companies in North America and is a 2016 multi-Stevie award winning company with honors including Company of the Year, Most Innovative Company of the Year and Fastest Growing Company of the Year. Controlling over 2.2 million tons-per-year, LRS does not own a landfill and is committed to raising awareness for a more environmentally sustainable and scalable business model that fuels the circular economy. To learn more, visit www.LRSrecycles.com.