LRS聽announces that it has acquired Minneapolis-based Atomic Recycling, the largest provider of Construction and Demolition (C&D) recycling and roll-off container services in the Twin Cities; financial terms were not disclosed and the acquisition is effective immediately.
Now operating across six Midwest states: Illinois, Wisconsin, Iowa, Indiana, Michigan and Minnesota, LRS continues 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 Chief Executive Officer, 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, Chief Operating Officer, and his brother Reed Smith, Chief Executive Officer, will continue with LRS in key operating roles as well as significant shareholders.
鈥淲e 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鈥� most respected and dominant C&D recycling companies,鈥� Handley said. 鈥淚t鈥檚 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.鈥�
Founded in 1999, Atomic Recycling has emerged as the Twin Cities鈥� leading provider of roll-off container, C&D recycling, and construction management services. Atomic dominates the recycling market in the Twin Cities, controlling and processing 65 percent, or nearly 250,000 tons of available C&D material at its state-of-the-art recycling facility. The acquisition adds nearly 100 employees, 50 trucks and 2,000 roll-off containers to LRS鈥� newly formed Minnesota platform.
鈥淪ince our inception, Atomic Recycling has brought a sustainability focus aimed directly at recycling more construction waste material for Minneapolis鈥揝aint 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,鈥� said Atomic Recycling CEO Reed Lewis. 鈥淲e 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.鈥�