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Longtime Client LRS Completes Recapitalization with MIP V

Longtime Client LRS Completes Recapitalization with MIP V

Much advised LRS in completing a strategic equity investment by MIP V to further scale the company's growth. As one of the nation's largest privately held waste, recycling, hauling, disposal, and portable restroom companies, LRS has provided comprehensive recycling and waste diversion services for more than 20 years. MIP V is a $6.9 billion unlisted infrastructure fund managed by Macquarie Asset Management (MAM).

"At this juncture in our corporate evolution, we couldn't be more delighted to receive this sizeable investment from MIP V. With their deep knowledge of the space and the capital and support dedicated to our team, we will be an even more disruptive force in the waste and recycling industry," said LRS Chief Executive Officer Alan T. Handley. "This partnership will propel our competitive leadership position throughout the Midwest."

“2021 has been a year of spectacular growth for LRS, and MAM's industry insight will accelerate that growth even further. We're proud to continue supporting LRS on its journey of development and innovation.”

Mitchell Roth, Co-Chairman

Much's multidisciplinary team advised LRS in all facets of the transaction: corporate, employment, environmental, lending finance, tax, and real estate. Principals Mitchell Roth, Steve Schwartz, David Alman, Steve Blonder, Harold Dembo, Irv Geslewitz, J. Eric Guth, Sheryl Jaffee Halpern, Jeff Jung, Max Kanter, David Schmidt, Ed Walsh, and Andrew Silver, served as advisors to LRS in this transaction. Much serves as general counsel for LRS, advising on daily operational needs and strategic acquisitions. LRS and Much have been partners since 2014.

MAM provides investment solutions to clients across a range of capabilities including infrastructure, real estate, agriculture, transportation finance, private credit, equities, fixed income, and multi-asset solutions.