EVI Industries Completes New Acquisition

Commercial laundry and dry-cleaning equipment distributor EVI Industries reports that it has finalised the acquisition of all of the outstanding shares Tennessee-based Laundry Systems of Tennesse and affiliates. This company is a distributor of commercial, industrial and vended laundry products and a provider of related installation and maintenance services to the new and replacement markets of the commercial laundry industry. The company also leases commercial laundry equipment and sells chemicals and other laundry consumables.

The acquisition expands EVI’s sales and service presence in the Southeast of the US, which corresponds with its strategy to strengthen its position in geographic markets in order to improve customer service and pursue new growth opportunities. Laundry Systems of Tennessee will remain operating under its existing name and under the current management.

Since November 2016, EVI has acquired 12 businesses. It considers itself “the fastest growing company in the commercial laundry industry,” with a four-year compounded annual growth rate for revenue of over 70%. Henry M. Nahmad, EVI chairman and CEO: “We remain very active in our pursuit of additional acquisitions of and strategic investments. Given our record, reputation, and appetite for significant growth, we believe EVI is well-positioned to capitalize on a growing number of opportunities.”