Ray’s Trash Service, the largest family-owned recycling and waste collection operation in central Indiana, has been acquired by Houston-based giant Waste Management Inc.
Waste Management on Thursday confirmed that it had acquired “key assets” of Ray’s and will integrate them into its operation.
“We look forward to the integration and value that 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 Hendricks County town of Clayton, was founded in 1965 by Ray and Barbara Matthews and has grown to more than 600 employees. Several members of the Matthews family are involved in managing the business.
The company offers waste-management, recycling services and document-destruction services in 17 central Indiana counties, including Marion and all surrounding counties. It also has a fleet of more than 300 trucks.
In addition to its main office at 3859 E. U.S. 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 recycle 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’s unclear whether Ray’s will continue to manage any operations, or if the Ray’s brand will be retired. Ray’s referred questions to Waste Management, which provided a three-sentence statement that did not comment on impact to 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 the cultivation of community vitality and sustainable growth in the region,” the statement said.
Waste Management had revenue of $17.9 billion last year. It has more than 42,000 employees and 21 million residential and corporate customers.
In October 2020, Waste Management completed its acquisition of Ponte Verda, Florida-based Advanced Disposal Services Inc. for about $4.6 billion, making Waste Management the nation’s largest waste-management company, ahead of Phoenix, Arizona-based Republic Services.
In its second-quarter earning report, Waste Management said it planned to complete between $300 and $400 million of acquisitions in 2022. Industry news site wastedive.com speculated that Waste Management spent a “notable share of that planned spending” to acquire Ray’s.