Tyrex Resources LLC, Hamilton, New Jersey, has announced the acquisition of Tire Management, a tire recycling company based in Paterson, New Jersey. The combined operations will service more than 1,600 customers and manage the recycling of nearly 2 million tires per year, the company says in a news release announcing the acquisition.
Tyrex/CompacTyres is known for its application of patented compaction technology and predictive software to deliver increased service frequency and greater value to customers throughout New Jersey and Eastern Pennsylvania. The company says it has been rapidly growing its operational footprint. The Tire Management acquisition represents its first expansion through acquisition.
Chris LaBanca, founder of Tire Management who built his company into the “premier tire collection service” in northern New Jersey, will be joining the Tyrex management team. In his role, LaBanca will lead client integration operations in the region and will help to guide continued rapid expansion of the combined entities.
“Tyrex has built an innovative and efficient model for delivering collection services,” LaBanca says. “Our team and our clients are in great hands.”
“We are looking forward to bringing our unique technologies and unmatched level of service to the large Tire Management client base,” adds Fred Devlin, Tyrex co-founder and chief executive officer. “We’re pleased to have successfully completed our first acquisition, and welcome Chris and his team to our expanding organization”