Lakeshore Recycling Systems (LRS), a recycling and waste management firm located in the Chicago area, has acquired K. Hoving Cos., a full-service waste management, recycling and dumpster rental company that is based in West Chicago, Illinois.
According to LRS, with the acquisition, it is now Illinois' largest private waste company and expands its services to include street sweeping and portable restrooms. The new businesses will be included in the newly created 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," says Alan Handley, LRS CEO. "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 Cos. provides services in dumpster rental, roll-off, commercial, construction recycling, portable restrooms and street sweeping in both DuPage County and throughout greater Chicagoland. Additionally, LRS says that K. Hoving Cos. operates the only recycling facility in Chicago that is nationally certified by the Recycling Certification Institute.
Both LRS and K. Hoving Cos. have a zero-landfill policy.
Ken Hoving and K.J. Loerop, K. Hoving Cos.’ founding executives, will lead the 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 says.
With the addition of K. Hoving Cos., LRS now operates seven material recovery facilities (MRFs) throughout the Midwest. The acquisition also increases the company’s annual revenues to nearly $170 million and its workforce to more than 720 full-time employees. The combined companies will now control nearly 20 percent 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.
LRS was profiled in the October 2016 issue of Recycling Today. To view the profile, click here.