MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries reports that it has acquired O’Dell Equipment and Supply, based in Jeffersonville, Indiana. Terms of the deal were not disclosed.
O’Dell distributes commercial laundry products and provides related technical installation and maintenance services to the on-premise and vended laundry segments. It is EVI’s 28th acquisition in the commercial laundry distribution and service industry, 12 of which are in the Southeast.
“The addition of O’Dell is consistent with our strategy to offer the broadest portfolio of commercial laundry products such that our sales organization will be able to provide comprehensive solutions for any commercial laundry customer in North America, and to support our customers with the largest and most knowledgeable service organization in the industry,” says EVI CEO Henry M. Nahmad.
“We welcome Craig O’Dell, Jesse Jewell, and the entire team at O’Dell to the EVI family and we look forward to working together with them to achieve our long-term goals.”
O’Dell will operate under its existing name, from its existing facility, with all 25 current employees, and continue to represent the company’s long-term and loyal supplier partners. This arrangement is customary of acquired businesses under EVI’s operating model.
For the 12 months ended June 30, O’Dell generated revenues of approximately $10.5 million from the sale of equipment and parts and the performance of installation and maintenance services.
Following a buy-and-build growth strategy, EVI remains active in the pursuit of additional investments in other businesses. The company believes that it’s well-positioned to capitalize on opportunities given its record, reputation, financial strength, and appetite for significant growth.
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