MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries Inc. has completed its acquisition of New Castle, Pennsylvania-based ALVF Inc., doing business as ALCO Washer Center, a distributor of commercial laundry products and a provider of related technical installation and maintenance services to vended and on-premise laundry customers.
Terms of the deal were not announced.
The addition of ALCO enhances EVI’s distribution, service, and installation capabilities to its growing customer base across the Northeast, EVI reports.
“ALCO represents our 25th acquisition in the commercial laundry distribution and service industry,” says Henry M. Nahmad, EVI chairman and CEO. “We believe that the thoughtful execution of our buy-and-build growth strategy has earned us a positive reputation in and around the commercial laundry industry, including among owners of quality businesses.”
Nahmad adds that EVI “remains very active” in its pursuit of additional investments in other businesses.
As a result of its acquisition program and various organic growth initiatives, EVI considers itself to be the fastest growing and only listed company devoted to the North American commercial laundry distribution and service industry.
Have a question or comment? E-mail our editor Bruce Beggs at [email protected].