Chicago, Illinois based Lakeshore Recycling Systems (LRS), has acquired K. Hoving Companies, a full-service waste management, recycling and dumpster rental company based in West Chicago.
As a result of the acquisition, LRS said that it is now Illinois’s largest private waste company and has expanded its system-wide services to include street sweeping and portable restrooms as part of a new Temporary Services Division.
“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,” commented LRS chief executive officer Alan T. Handley.
According to LRS, K. Hoving Companies has built a good reputation as a full-service waste and recycling company offering services throughout greater Chicagoland. Moreover, it noted that K. Hoving Companies operates the only recycling facility in Chicago that is nationally certified by the Recycling Certification Institute.
K. Hoving Companies founding executives, Ken Hoving and KJ Loerop will lead the newly-formed 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,” said Hoving.
With the addition of K. Hoving Companies, LRS said that it now operates seven Material Recovery Facilities (MRFs) throughout the Midwest, and will have increased annual revenues of nearly $170 million and a workforce of over 720 full-time employees.
LRS added that the combined companies will control nearly 20% 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.
Financial terms of the deal were not disclosed and the acquisition is effective immediately.
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