Roseville-based GLR Advanced Recycling and Holland-based PADNOS today announced they have combined, with PADNOS acquiring a significant interest in GLR. The new partnership will include 24 locations throughout Michigan. Both companies will operate under their current names.
The companies are family-owned and have nearly two centuries of combined years in operation. GLR was founded in metro Detroit by Henry Rosen in 1927. It began in the paper and corrugated cardboard business and has expanded to plastics, electronics, metal, and vehicle recycling, with an emphasis on the automotive and ferrous and nonferrous markets. The company operates six facilities in the state.
“GLR has been expanding its capabilities in recent years, and a strategic partnership with PADNOS fits perfectly within our vision and long-term strategic plan,” says Michael Bassirpour, president of GLR. “We see a lot of synergies between the two companies and, geographically, a partnership allows us to serve more customers throughout the state and grow to neighboring markets.”
PADNOS was founded in 1905 by Louis Padnos. It has 18 locations throughout Michigan and Indiana.
“This is the next step in the evolution of two great family businesses,” says Jonathan Padnos, president of PADNOS. “There are many parallels between our companies, making this a natural fit, and it is an honor to partner with Michael Bassirpour and the entire GLR team. As we build on the combined experience the Rosen and Padnos families have in the industry, we look forward to continued growth and to serving customers in the Great Lakes region.”
The partnership will expand upon both companies’ ability to recycle metals of all types, motor vehicles, paper, plastic, and electronics.
