Nebraska-based facility purchased by former officers of Mid America Recycling.
Midland Recycling, a Lincoln, Neb.-based recycling plant, has been acquired from Palmer Refuse Inc. by a group of recycling veterans who are former owners of the facility. The new owners, in a news release, say the purchase is the first step in in their plan to build a multilocation firm. The name Midland Recycling will be retained by the new ownership group.
The new owners of the company have united under the name Greenwaste LLC. The company was organized Jan. 2, 2014, as an Iowa limited liability corporation. The new ownership group includes Mick Barry, who will hold the position of president and co-owner; Kelley McReynolds, who will be vice president and general manager; and co-owner Brian Meng. All three formerly worked for Mid America Recycling Co., which had been based in Des Moines, Iowa, before being sold to the former Greenstar Recycling in 2007.
“Midland Recycling is a fine, well-operated company that will add significant value to our customers and shareholders,” says Barry. “My business partner, Brian Meng, and I will utilize our experience, resources and intellectual capital to ensure that Midland Recycling will return to the forefront of the recycling industry in the Lincoln, Neb., market.”
“The new ownership team is among the most respected in the recycling industry,” says Mike Palmer, president of Palmer Refuse Inc. “We are thrilled to sell Midland Recycling to such a competent, experienced team.”
Midland Recycling’s new ownership team says it will initially focus on growing its commercial customer base, negotiating higher sale prices for the commodities produced and improving operational efficiencies at the plant.