INWOOD, N.Y. — Laundrylux, the North American supplier of Electrolux and Wascomat laundry equipment, reports it has acquired the assets of California-based distributor Golden State Laundry Systems. Terms were not disclosed.
“We are thrilled to partner with Mike and Laura Hurrell and the Golden State team in San Diego, Los Angeles, and the Bay Area to serve the California market and accelerate growth,” says Laundrylux CEO John Sabino.
Golden State Laundry Systems has been a California commercial laundry distributor since 1954, supporting its sales through a fully stocked parts department, factory-trained service technicians, preventive/corrective maintenance programs, store construction, and other services.
“We have had a long, successful relationship with Laundrylux,” Mike Hurrell says, “and to participate financially in Laundrylux’s acquisitions and consolidation of professional laundry distribution is a once-in-a-lifetime opportunity.”
“We have numerous acquisitions in development and every transaction includes management continuing to run their business, with access to all our resources and capabilities,” says Neal Milch, executive chairman of Laundrylux. “As financial partners, acquired distributors will participate in Laundrylux’s nationwide growth and future liquidity options. We become one unified enterprise.”
Laundrylux says it is the largest integrated independent distributor of professional laundry equipment in the world, with 65 years of experience in distribution; product and technology development; financing; equipment leasing; coin-op laundry development; on-premise laundry development; and wet cleaning.
Laundrylux operates throughout North America and reports it maintains strategic partnerships with Fortune Global 1000 OEM manufacturers, with a double-digit compounding annual growth rate.