USA EnviroStar Inc. (EVI) on the move

Commercial laundry and drycleaning equipment distributor EnviroStar Inc. (EVI) has executed definitive merger agreements to mainly acquire all assets and certain liabilities of colleague distributors Worldwide Laundry Inc., also from Miami, and Skyline Equipment Inc., from Houston, Texas. For the merger a combination of cash and EVI stock is used. Purchase prices were not announced.

The company is , through its wholly-owned subsidiaries, a distributor that sells, leases, and rents commercial, industrial, and vended laundry and dry cleaning equipment, steam and hot water boilers manufactured by others, supplies related replacement parts and accessories, designs and plans turn-key laundry, dry cleaning, and boiler systems, and provides installation and maintenance services to thousands of customers, which include commercial, industrial, institutional, government, and retail customers. The activities are conducted in the United States, Canada, the Caribbean and Latin America. The proposed acquisition are part of EVI’s other pending acquisitions in order to increase market share, provide access to key brands and stimulate expansion plans. With the added leadership, experience and resources EVI wishes to pursue domestic and international growth opportunities in the sale, installation and service of vended and on-premise laundry markets. The additions so far realized and those not yet identified publicly, will ultimately add up to nine and are a vital part of the “buy-and-build growth strategy” that EVI has defined with the completion of fiscal year 2016.  Previous acquisitions include Western State Design, Martin-Ray Laundry Systems, Tri-State Technical Services, Aadvantage Laundry Systems, Scott Equipment and Industrial Laundry Services.

Source: EnviroStar Inc.