Waste Management Inc. has bought most of the assets of Chicago area waste and recycling firm Land and Lakes for an undisclosed amount.
The Illinois subsidiary of the Houston-based Waste Management acquired the hauling company, three composting facilities and the Prarie Lakes Recycling and Transfer Station, said Jennifer Andrews, director, corporate communications & community relations for the region, in an e-mail. The composting facilities are in the Illinois cities of Dolton, Buffalo Grove and Romeoville, and the hauling operation and transfer station are in Matteson. Waste Management kept all employees involved.
Waste Management purchased everything but the clean fill site, the company said.
The Park Ridge, Ill., based Land and Lakes confirmed the deal as well, but officials were unavailable to give more details. The company is owned by the Cowhey family.
The specific acquisitons and their assets are Land and Lakes Co., various pieces of equipment; Land and Lakes Disposal Services LLC, hauling assets; Land & Lakes Yard Waste Reclamation Inc., compost assets; Construction Equipment Leasing LLC, various pieces of equipment; and Matteson Investments LLC, transfer staion permit.
The deal was completed August 1, and President Jim Cowhey subsequently left the company.