MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries earlier this month completed its acquisition of Richmond, Virginia-based Commercial Laundry Equipment Co. (CLE).
Terms of the acquisition were not disclosed but financial consideration included a combination of cash and EVI common stock, EVI says. The deal expands EVI’s sales and service presence in the Mid-Atlantic states.
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.
CLE—which will continue to operate under its existing name, with existing staff, and under the leadership of President Tom Brittle—has immediately begun to collaborate with existing EVI businesses on growth opportunities in its territories.
The completed deal brings to 14 the number of laundry-related businesses that EVI has acquired since November 2016.