MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries Inc. (NYSE American: EVI) reports it has executed a definitive agreement and completed the acquisition of Pearl, Mississippi-based Laundry South. Terms of the deal were not released by the publicly traded company.
Laundry South is EVI’s 19th distributor of commercial laundry products and provider of related technical installation and maintenance services (the closing of EVI’s announced acquisition of Lakewood, Colorado-based Clean Designs Inc. and Clean Route LLC is pending at this time).
The addition of Laundry South expands EVI’s sales and service operations into the state of Mississippi and increases its presence and market share in eastern Louisiana. Laundry South will join EVI’s Southcentral Group of commercial laundry businesses and will operate under its current name, from its present location, and with all its employees.
“The addition of Laundry South is consistent with our mission to amass the brightest, most ambitious, and talented sales, service, and support professionals in the commercial laundry industry such that we may deliver our growing customer base comprehensive commercial laundry solutions,” says Henry M. Nahmad, EVI’s chairman and CEO. “We are excited about the growth prospects for the Laundry South team, and we look forward to collaborating with them to that end.”
EVI says it is in the early stages of a long-term growth strategy to build an enterprise through which it may deliver comprehensive laundry solutions to all industry segments. It has been acquiring commercial laundry distributors since fall 2016.
“Our nineteenth acquisition is a testament to our reputation as a credible, capable, and disciplined acquirer with a leadership team, organizational culture, and operating philosophy that attracts successful entrepreneurs, industry professionals, and supplier partners who share our vision and values,” Nahmad says. “We remain steadfast in the pursuit of our long-term growth and profitability goals.”
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