Livingstone advises Lakeshore Recycling Systems on Goldman Sachs recaptilization

  • Dec 2017
  • Business Services
  • M&A: Sell-Side
  • US
  • RESTRUCTURING
Lakeshore recycling recapitalisation by Goldman Sachs

Livingstone Partners is pleased to announce Lakeshore Recycling Systems (“LRS” or “the Company”), the largest private waste company in Illinois, has completed a recapitalization led by Goldman Sachs Private Capital Investing and Maple Partners.

Livingstone provided advisory services to the Company. The investment will enable LRS to continue to grow its operations and provide its customers with best-in-class service. The Company’s existing executive team will continue to lead LRS, and the new ownership structure will not impact operations.

LRS’ recapitalization follows a year of aggressive growth as evidenced by the Company’s acquisition of three leading regional waste services and recycling companies and the awarding of numerous large municipal contracts. In just five years, LRS has grown annual revenues in excess of $170 million and now counts more than 760 employees across greater Chicagoland. Since 2013, LRS has grown through a combination of strong organic growth coupled with strategic acquisition of independent waste collection companies. This growth has led to a large regional presence, and the Company continues to seek super-regional acquisition opportunities in Wisconsin, Indiana, Minnesota and Southwest Michigan.

“We are thrilled to have helped secure recapitalization capital to accelerate LRS’ platform expansion,” commented Stephen Miles, Partner, Livingstone.

William Blair served as co-advisor to LRS on the transaction. Much Shelist served as legal advisor and Capstone Partners LLC provided financial advisory services to the Company.


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