MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries Inc. reports that it has taken steps to acquire Taunton, Massachusetts-based Baystate Business Ventures, doing business as Eastern Laundry Systems. Terms of the deal were not released.
Eastern is a distributor of commercial and vended laundry products and a provider of related installation and maintenance services supporting a diverse customer base in the New England region.
This acquisition is consistent with EVI’s strategy to build the largest and most dynamic sales and service team in each geographic market to promote its growing portfolio of products and to expand its service operations.
“We are pleased to welcome Eastern Laundry Systems to the EVI family,” says EVI Chairman/CEO Henry M. Nahmad. “We remain very active in our pursuit of additional acquisitions and strategic investments in other great businesses in our industry and in those industries that meet our financial and strategic criteria.”
The definitive purchase agreement to acquire substantially all of Eastern’s assets and certain liabilities is expected to close upon satisfaction of closing conditions.
When the transaction is complete, Eastern will be the 16th commercial laundry business that EVI has acquired since October 2016.