Lakeshore Recycling Systems Acquires Heartland Recycling

CHICAGO, IL--(Marketwired - Jun 3, 2014) - Lakeshore Recycling Systems (LRS), Chicagoland's leading independent recycling and waste diversion services provider, today announced it has acquired Heartland Recycling. With the acquisition of Heartland, LRS will process over 1.5 million tons of waste material annually and control and process more waste than any other privately-held company in Illinois.

LRS will significantly expand its footprint in Chicago as a result of the acquisition, now operating four Materials Recovery Facilities (MRFs) and transfer facilities throughout greater Chicagoland. The acquisition also increases LRS revenues to over $100 million and adds nearly 10 percent to its existing workforce. Heartland, headquartered in Forrest View, Ill., processes in excess of 600,000 tons of waste material a year, operates two MRFs and serves more than 500 municipal and commercial customers.

LRS, with primary operations in Chicago and its suburbs, is a diversified waste services company providing commercial, residential, recycling and roll-off waste collection and diversion services to more than 6,000 commercial and municipal customers. LRS counts more than 350 employees and operates the largest MRF in Illinois, processing nearly one million tons of waste material annually. 

"The acquisition of Heartland is a defining moment for LRS and validates our leadership position as one of the Midwest's largest independent diversified waste services companies," said Lakeshore Recycling Systems CEO Alan T. Handley. "We welcome Heartland customers and employees to the LRS family and we remain committed to realizing aggressive and profitable growth both organically and through strategic acquisition."

LRS customers include the City of Chicago, Village of Skokie, City of Evanston, University of Illinois at Chicago, Walsh Construction Group and McHugh Construction Co. Lakeshore Recycling operates with a heavy emphasis on waste material management, including recycling, beneficial reuse and landfill diversion.

Comerica provided the debt financing and Livingstone Partners acted as exclusive financial advisor to LRS. Terms of the deal were not disclosed.

About Lakeshore Recycling Systems

Serving Chicagoland for more than 12 years and headquartered in Morton Grove, Ill., Lakeshore Recycling Systems is Chicago's leading recycling and waste diversion services provider. LRS provides recycling and waste diversion programs, affordable roll-off container services and comprehensive waste removal to businesses and residential homeowners. LRS operates a growing fleet of natural gas-powered trucks and is run by more than 350 committed full-time employees. In addition to servicing all 658 schools in the Chicago Public Schools system, LRS actively participates in the City of Chicago's Blue Cart Residential Recycling Program and is committed to raising awareness and fostering discussion on the importance of recycling and environmental sustainability. Learn more and follow the company at www.lakeshorerecyclingsystems.com, 'Like' us on Facebook and follow on Twitter @LRSRecycles.