DETROIT/July 26, 2016 – Comerica Bank’s continuing support of Lakeshore Recycling Systems (LRS), one of the fastest growing waste and recycling companies in the Midwest, has helped fuel the company’s significant growth and market capitalization in the greater Chicago region.
Comerica has served as an integral growth partner, from assistance in LRS’ recent acquisition of Northbrook, Ill.-based C&D Recycling, the company’s sixth facility, to other facility and equipment upgrades and the introduction this year of the first organic recycling program in Illinois.
“Our customers work hard to establish and grow their businesses,” said Patrick Snow, vice president and relationship manager for Comerica Bank’s Environmental Services Department. “We are proud to help LRS take their business to the next level by creating a customized plan to meet their evolving development and financial needs.”
LRS has been a Comerica customer since 2012, when the bank assisted with the merger of Lakeshore Waste Services and Recycling Systems Inc. During that time, Comerica assisted the company on several growth initiatives, including the construction and opening of a new single stream recycling facility that today harvests and processes more than 20 tons of recyclable material per hour, as well as the 2014 acquisition of Heartland Recycling.
“Lakeshore has grown rapidly from a small Chicago-based collection, processing and recycling company with one recycling facility and two hundred employees to a much larger, more vertically integrated regional provider with over six locations and more than six hundred employees,” said LRS Chief Executive Officer Alan T. Handley. “Comerica’s trusted advisors have a seat at our table because they bring a keen business acumen, a deep waste and recycling industry expertise, and a genuine belief in their customers.”
Today, LRS processes in excess of 2.2 million tons of waste material annually, more than any other privately-held company in Illinois. LRS thrives in the circular economy with a business model rooted in sustainability. The company takes particular pride in owning no landfills and diverting more waste from landfills than any other service provider in Illinois.
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About Lakeshore Recycling Systems
Serving Chicagoland for over 17 years, Lakeshore Recycling Systems (LRS) specializes in recycling and waste diversion programs, affordable roll-off container services and comprehensive waste removal to Chicagoland businesses and residential homeowners. LRS owns and operates six Material Recovery Facilities (MRFs), a fleet of fuel-efficient natural gas-powered trucks and is run by over 600 committed full-time employees. LRS is a recipient of Chicago Public Schools' coveted Best Partnership Award, is ranked #35 on Waste360's 2016 Top 100 Waste and Recycling Companies in North America and is a 2016 multi-Stevie award winning company with honors including Company of the Year, Most Innovative Company of the Year and Fastest Growing Company of the Year. Controlling over 2.2 million tons-per-year, LRS does not own a landfill and is committed to raising awareness for a more environmentally sustainable and scalable business model that fuels the circular economy. To learn more, visit www.LRSrecycles.com.
About Comerica Bank
Comerica Bank, with more than 200 banking centers in Michigan, is a subsidiary of Comerica Incorporated. Founded in Detroit in 1849, Comerica continues to invest in Michigan. The bank’s community support in Michigan, which includes contributions and volunteer labor hours, totaled more than $4 million last year. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. To find us on Facebook, please visit www.facebook.com/Comerica. Follow us on Twitter at @ComericaCares.
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