EVI Industries further Expands and Acquires CLE

Commercial laundry and drycleaning equipment distributor EVI Industries, Inc. recently announced that it executed a definitive purchase agreement to acquire mainly all the assets and certain liabilities of Richmond, VA based Commercial Laundry Equipment Company, Inc.(“CLE”). CLE is a distributor of on-premise 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 acquisition expands EVI’s sales and service presence in the Mid-Atlantic of the U.S.. It corresponds with the company strategy to provide additional products and services and improve customer service, based on distribution and service density in geographic markets.  CLE has a large customer base that is loyal to the knowledge, experience, and capabilities of its sales and service organization.

Consistent with the EVI operating model, the company will continue to operate under its existing name, with its existing people, and under the leadership of its current President, Tom Brittle. The transaction is expected to close upon the satisfaction of closing conditions. Terms of the acquisition were not disclosed. Consideration includes a combination of cash and EVI common stock.