Ray’s Trash Service, the largest family-owned recycling and waste collection company in central Indiana, has been acquired by Houston-based giant Waste Management Inc..
Waste Management confirmed on Thursday that it had acquired “key assets” from Ray’s and integrated them into its operation.
“We look forward to the integration and value this acquisition will bring to expand and advance WM’s environmental services in central Indiana,” Waste Management said in a statement.
Ray’s, based in the town of Clayton, Hendricks County, was founded in 1965 by Ray and Barbara Matthews and has over 600 employees. Several members of the Matthews family participate in the management of the company.
The company provides waste management, recycling and document destruction services in 17 central Indiana counties, including Marion and all surrounding counties. It also has a fleet of over 300 trucks.
In addition to its main office at 3859 EUS 40 in Clayton, Ray’s has a resource recovery and transfer facility and a recycling plant in Clayton; a metal recycling plant at 3602 Farnsworth St. in Indianapolis; a recycling and transfer facility in Whitestown; a transfer and recycling facility at 200 Harding St. in Indianapolis; and a recycling facility at 2025 Stout Field West Drive in Indianapolis.
It is unclear if Ray’s will continue to manage operations or if the Ray’s brand will be retired. Ray’s questions were referred to Waste Management, which provided a three-sentence statement that did not comment on the impact on employees or operations.
“WM remains committed to providing the Indianapolis area with quality recycling and waste disposal services for years to come, with an emphasis on supporting a culture of community vitality and sustainable growth. in the region,” the statement said.
Waste Management made $17.9 billion in revenue last year. It has more than 42,000 employees and 21 million individual and business customers.
In October 2020, Waste Management completed its acquisition of Advanced Disposal Services Inc., based in Ponte Verda, Florida, for approximately $4.6 billion, making Waste Management the nation’s largest waste management company, ahead of Republic Services, based in Phoenix, Arizona.
In its second-quarter earnings report, Waste Management said it expects to make between $300 million and $400 million in acquisitions in 2022. Industry news site wastedive.com speculated that Waste Management spent a “significant portion of these planned expenditures” to acquire Ray’s.