Morton Grove, Illinois-based LRS, a leading independent waste, recycling and portable services provider in the Midwest, has announced its recent acquisition of Minneapolis-based Atomic Recycling, the largest provider of construction and demolition (C&D) recycling and roll-off container services in the Twin Cities.
According to a release, financial terms were not disclosed and the acquisition is effective immediately.
Now operating across six states, including Illinois, Wisconsin, Iowa, Indiana, Michigan and Minnesota, LRS says it will continue its mission to disrupt the waste industry status quo, delivering “unmatched waste, recycling and portable services to well over a million residential, commercial and municipal customers.”
LRS CEO Alan T. Handley heralded the acquisition as a core strategic fit as the company continues to attract independent, family-owned providers across the Midwest. Atomic Recycling founders Kyle Lewis and his brother Reed Smith will continue with LRS in key operating roles as well as significant shareholders.
“We extend a warm LRS welcome to Kyle, Reed, the nearly one hundred hard working Atomic employees and thousands of customers who helped build Atomic Recycling into one of the Twin Cities’ most respected and dominant C&D recycling companies,” Handley said in a release. “It’s a great day as we plant a new flag in a strategic cornerstone market for LRS. We look forward to rapidly expanding our presence throughout Minnesota, and view Atomic and its outstanding team and culture, as the optimal platform from which to drive that effort.”
Founded in 1999, Atomic Recycling has emerged as the Twin Cities’ leading provider of roll-off container, C&D recycling and construction management services. The company has reportedly dominated the area’s recycling market, controlling and processing 65 percent, or nearly 250,000 tons of available C&D material at its state-of-the-art recycling facility.
This acquisition adds nearly 100 employees, 50 trucks and 2,000 roll-off containers to LRS’ newly formed Minnesota platform.
“Since our inception, Atomic Recycling has brought a sustainability focus aimed directly at recycling more construction waste material for Minneapolis–Saint Paul-based construction and remodeling companies. This unique and focused approach has resulted in the diversion of a tremendous amount of construction waste away from Minnesota landfills,” said Atomic Recycling CEO Reed Lewis.
“We are excited to enter into this transformative agreement with LRS, a national leader in the waste and recycling industry. LRS shares in our commitment to providing an exceptional customer experience, fostering local and regional competition, operating with honest Midwest values and sharing in our commitment to deliver sustainability-focused waste, recycling and portable services.”