MIAMI — The Board of Directors for commercial laundry and drycleaning equipment distributor EnviroStar Inc. (EVI) has approved changing the company’s corporate name to EVI Industries Inc.
The name change signifies EVI’s focus on executing its buy-and-build growth strategy in the commercial, industrial, and vended laundry industry and across a group of industries that meets its strategic criteria, the company reports.
In 2018, EVI acquired Scott Equipment of Houston, Texas; Industrial Laundry Services of Orlando, Florida; Worldwide Laundry of Miami, Florida; Skyline Equipment of Houston; and the parent company of Washington Automated, Everett, Wash.
The additions brought to nine the number of laundry equipment distributors that EVI has acquired since executing its growth strategy with the completion of fiscal year 2016.
The name change will not impact the ticker symbol of the company’s common stock, which will continue to trade on the New York Stock Exchange as “EVI.”
The EVI Board also approved a special cash divided of 13 cents per share on EVI common stock, an 8.3% increase over the special cash dividend declared in December 2017. The dividend will be payable on January 8 to stockholders of record at the close of business on Dec. 26.