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Tuck-in acquisitions complement and add scale to service offerings in key regional markets.

CHICAGO , Aug. 1, 2022 /PRNewswire/ -- LRS, among the nation's leading independent waste diversion, recycling and portable services providers, today announced two strategic portable restroom provider acquisitions for its LRS Portables line of business: Stillwater, Minn. -based AirFresh Industries and Warsaw, Ind. -based JL Hurt, adding complementary services to existing operations in high-growth Minneapolis-St. Paul and northern Indiana markets; financial terms were not disclosed and the acquisitions are effective immediately.

Founded in 1987, AirFresh Industries President Kelly Thommes and her husband, Vice President of Operations Tim Thommes , built AirFresh into a thriving regional provider of portable restroom services. The company serves the entire Twin Cities metro area, surrounding counties, and locations in western Wisconsin . AirFresh has built an outstanding reputation for customer service that outperforms industry standards and is strategically positioned to add scale to LRS Minnesota operations.

AirFresh complements existing LRS Minnesota operations, consolidating the 2021 acquisitions of North Branch, Minn. portables provider Jimmys Johnnys, and Minneapolis -based Atomic Recycling, the largest provider of construction and demolition (C&D) recycling and roll-off container services in the Twin Cities . The addition of AirFresh positions LRS as the one-stop-shop for all waste and portable restroom needs in the Twin Cities .

Warsaw, Ind. -based portables provider JL Hurt was acquired simultaneously to AirFresh, spotlighting the LRS commitment to growth across all core waste services in the Midwest. With a rich service history in northern Indiana , Justin Hurt started his company with only two portable restroom units and a pick-up truck, ultimately building dense market share through a loyal customer following across 10 northern Indiana counties. The acquisition of JL Hurt adds scale to three prior regional LRS acquisitions: South Bend, Ind. -based roll-off and transfer station provider Junoll Services; Kingsbury -based portables provider Johnson Johns ; and Niles, Mich. -based Joys Johns, setting the stage for continued growth across the greater Midwest.

"I am thrilled to welcome both AirFresh and JL Hurt employees, customers, and legacy founders to the LRS family. Both companies have built their success by sharing in our core values of safety and service excellence, a relentless focus on the customer experience, and raw entrepreneurial spirit, making these acquisitions a seamless transition for all parties," said LRS President and Chief Executive Officer Alan T. Handley . "We are especially excited to announce all founders – Kelly Thommes , Tim Thommes , and Justin Hurt have joined LRS in senior operations positions, helping catapult LRS Portables toward continued market leadership."

AirFresh and JL Hurt are LRS' seventh and eighth announced acquisitions to-date in 2022. Other announcements include Grayslake, Ill. -based Lakes Disposal; 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 more than 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. To learn more visit www.LRSrecycles.com. #BeyondWaste

Media Contact: Jim Engineer Manager, Corporate Communications [email protected]

M&A Contact: Ryan McGuire Director, Mergers & Acquisitions [email protected]

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