Pittsburgh-based Liberty Tire Recycling has acquired Lakin Tire, based in Santa Fe Springs. Terms were not disclosed.
Lakin specializes in scrap tire removal and recycling for more than 6,500 tire retailers, while Liberty, which has more than 1,500 employees across 23 plants, focuses mostly on tire recycling.
Thomas Womble, Liberty’s chief executive, will lead the combined business. The merged company will collect more than 180 million tires per year and recycle approximately 2.6 billion pounds of rubber into innovative, sustainable products.
“From the time my great-grandfather started Lakin Tire over 100 years ago,
we’ve provided best-in-class customer service with environmentally friendly tire recycling solutions,” Bob Lakin, who will retain an equity ownership stake in Liberty and become an executive director, said in a statement.
Lakin Tire processes more than 30 million tires a year. Some tires are recycled into rubberized asphalt, playground and athletic surfaces, welcome mats, and tire-derived fuel, while those in better shape are resold.
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