LRS | May 16, 2022
LRS, the greater Midwest's leading independent waste diversion, recycling and portable services provider, today announced the acquisition of Grayslake, Ill.-based Lakes Disposal Services, an independent, family-owned waste and recycling provider serving residents and businesses in northern Illinois; financial terms were not disclosed and the acquisition is effective immediately.
The acquisition expands LRS' northern Illinois footprint, adding nearly 2,000 commercial customers, and municipal services for residents in McHenry County, the Village of Wonder Lake, Village of Johnsburg, Village of Mettawa, Avon Township and large areas throughout Lake County.
Founded by Tim and Janelle Petersen in 2008, the acquisition of Lakes Disposal complements LRS' October 2021 acquisition of numerous GFL assets, including 16 municipalities in far northern Illinois, owned previously by Prairieland Disposal and Recycling Services.
"We welcome Tim, Janelle, and all Lakes Disposal employees and customers to the LRS family, and are excited to bring more growth and investment to our robust Chicagoland market, LRS continues to challenge the waste industry status quo, bringing much-needed local competition to help significantly lower the cost of Municipal Solid Waste and Recycling services, particularly at a time when many of our residential customers are struggling to make ends meet."
-LRS President and Chief Executive Officer Alan T. Handley.
The Petersen's and all Lakes Disposal employees will remain on with LRS to ensure a seamless transition and customer experience, Handley added.
Lakes Disposal is LRS' sixth announced acquisition in 2022; other 2022 announcements include: Portage, Wisc.-based The Country Plumber; Topeka, Kan.-based Ditch & Associates; Rochester, Minn.-based Sunshine Sanitation; Chicago-based Auburn Disposal; and South Bend, Ind.-based Junoll Services.
In 2021, the company amassed 22 acquisitions to complement its organic revenue growth across the nation's midsection.
LRS is among the nation's leading independent waste diversion, recycling and portable services providers. Since 2013, LRS has specialized in delivering an exceptional customer experience for millions of residential and commercial customers across nine states: Illinois, Wisconsin, Iowa, Indiana, Michigan, Minnesota, Kansas, Arkansas and Tennessee. Diversified and growing, LRS also offers affordable roll-off container services, C&D recycling, street sweeping, portable restroom rentals, on-site storage and temporary fencing. LRS owns and operates 65 facilities and thrives on the passion of 2,100 full-time employees. The company provides safe, innovative, sustainability-driven services to clean and beautify the cities, neighborhoods, and communities it serves.
REC Group | October 11, 2021
REC Group, an international pioneering solar energy company headquartered in Norway, today announces Reliance New Energy Solar Limited, a wholly owned subsidiary of Reliance Industries Ltd (Reliance), has signed a definitive binding agreement to acquire 100% shareholding of the largest European solar panel brand. REC Group (REC) welcomes the decision as this will allow a significant acceleration of the company's expansion plans.
Over its 25-year history, REC has consistently set new standards and introduced numerous innovations in the solar PV industry. This deal is therefore a perfect fit for the two strong brands with big ambitions to speed up the energy transition for a cleaner future. REC's production capacity has limited the company in serving more customers in more markets which demand its cutting-edge high-quality products. This new ownership will allow REC to rapidly boost its scale and better serve its increasing customer base and end consumers.
With Reliance's financial strength and commitment to solar, REC will grow to over 5 GW of capacity within the next 2 to 3 years in Singapore, Europe and USA. In India, Reliance plans to use this industry leading technology in their fully integrated, metallic Silicon to PV Panel manufacturing giga factory at Dhirubhai Ambani Green Energy Giga Complex, Jamnagar initially starting with 4 GW per annum capacity and eventually growing to 10 GW per annum. The combination of high-efficiency solar panels and economies of scale will allow consumers in more markets around the globe to access REC's premium solar panels and benefit from highly competitive electricity costs per kWh while actively reducing carbon emissions. As part of the Reliance family, REC and Reliance will accelerate their joint mission to empower people around the globe with clean and affordable solar energy.
Headquartered in Mumbai, India, Reliance is India's largest private sector company, with a consolidated turnover of INR 539,238 crore ($73.8 billion), cash profit of INR 79,828 crore ($10.9 billion), and net profit of INR 53,739 crore ($7.4 billion) for the year ended March 31, 2021. Reliance's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
Founded and headquartered in 1996 in Oslo, Norway, REC has grown to become a credible advocate for the global energy transition and green economy by strongly focusing on highly innovative solar technology. Among REC's key innovations are the award-winning split cell and junction box technology in a patented twin panel design as well as the lead-free and RoHS-compliant REC Alpha Pure solar panel, based on the advanced heterojunction cell technology. By providing high power density solar panels with a reliable long-term performance and a comprehensive warranty, REC makes it easy for homeowners and businesses to benefit from significant savings on electricity costs and carbon emissions. REC's advanced manufacturing techniques and its low carbon footprint silicon production in Norway allows consumers to even further minimize their personal environmental footprint.
LW44 is acting as the exclusive financial advisor and Fangda Partners and Baker McKenzie as legal advisors to REC and China National Bluestar (Group) Co in this transaction.
About Reliance Industries Limited (RIL)
Reliance is India's largest private sector company, with a consolidated turnover of INR 539,238 crore ($73.8 billion), cash profit of INR 79,828 crore ($10.9 billion), and net profit of INR 53,739 crore ($7.4 billion) for the year ended March 31, 2021. Reliance's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. Reliance is the top-ranked company from India to feature in Fortune's Global 500 list of 'World's Largest Companies'. It features among LinkedIn's 'The Best Companies to Work For in India' (2021).
About REC Group
REC Group is an international pioneering solar energy company dedicated to empowering consumers with clean, affordable solar power through high-quality solar panels with a leading power density. As Solar's Most Trusted, REC is known for its patented innovations and multiple award-winning products with reliable long-term performance. The cornerstone for REC's strong reliability is advanced and highly efficient manufacturing using Industry 4.0 practices. Founded in 1996 in Norway, REC has always been committed to a low carbon footprint in its solar materials and panels. REC is headquartered in Norway with operational headquarters in Singapore and regional hubs in North America, Europe, and Asia-Pacific.
Dynamic Energy LLC | October 22, 2021
Dynamic Energy LLC, a leading independent renewable energy company, was selected by Rondo-Pak to deliver solar power to its Camden, New Jersey operations. Rondo-Pak, which produces quality folding cartons and printed components for the pharmaceutical, medical device and consumer industries, will invest over $4 million in the major solar project. Once installed, the project will provide 2.2 million kilowatt-hours of clean energy per year – equal to over 1.7 million pounds of coal burned annually.
The rooftop solar array and carports will cover the entire facility and over 90% of the parking lots. Over 25 years, the system will generate approximately 52.6 million kilowatt-hours of electricity and is expected to provide at least 60% of the electricity needs at the facility. Dynamic Energy will provide engineering, procurement and construction services for the project. Construction commenced in October, 2021.
"This solar energy project is exciting for Rondo-Pak as it represents a major milestone in our continuous pursuit to reduce our carbon footprint and make positive contributions to the environment. Working hand-in-hand with Dynamic Energy, we expect to maximize our electricity savings. Our driving force in this initiative is to do our part in creating a more sustainable future for our community."
Tim Moreton, Chief Executive Officer of Rondo-Pak
Rondo-Pak has a long-standing commitment to sustainability and has made many investments over the years demonstrating this commitment.
In 2015, the company purchased its current Camden facility and completed a major renovation which was designed following the New Jersey Green Building Standards and ASHRAE requirements. All recent equipment investments are made with sustainability being a primary factor in the equipment selection. Additionally, Rondo-Pak is a FSC Certified Supplier, uses vegetable-based inks and has aggressive recycling and water usage reduction programs in place.
"Dynamic Energy is grateful to partner with Rondo-Pak to reduce its carbon footprint and cut its operating expense with solar," said Tim Carr, Senior Vice President of Business Development at Dynamic Energy. "Rondo-Pak's efforts to transition its energy resources to renewables shows true dedication towards its goal of environmentally-conscious business operations in New Jersey."
About Dynamic Energy Solutions, LLC
Dynamic Energy is a full-service, turn-key, independent national renewable energy provider that brings together the diverse expertise needed to design, finance, build and maintain projects to meet the needs of commercial, industrial, and institutional customers. With an in-house team that includes professional engineers, tradespeople, project managers, developers and financiers, Dynamic Energy creates high-quality projects that reduce customer expenses, improve operating efficiency, provide an attractive return on investment, and achieve sustainability goals.
Rondo-Pak/Contemporary Graphic Solutions is a global print and packaging specialist whose unique blend of capabilities and forward thinking yields present-day solutions for tomorrow's challenges. Strategically aligned with Körber Pharma to link packaging equipment, materials, and software, Rondo-Pak provides a comprehensive assortment of marketing and packaging solutions to address challenges facing the pharmaceutical industry, including global brand management, packaging efficiency, and supply chain optimization.
In combination with a wide range of printed materials such as inserts, leaflets, medication guides and regulated marketing materials, Rondo-Pak's packaging innovations address precise requirements for compliance, child resistance, anti-counterfeiting, e-pedigree and more.