EL SEGUNDO, Calif. — WASH Multifamily Laundry Systems President/CEO Adam Coffey was recently named a semifinalist for the EY Entrepreneur of the Year 2014 Award in greater Los Angeles, the company reports.
The awards program recognizes entrepreneurs who demonstrate “excellence and extraordinary success” in innovation, financial performance, and personal commitment to their business and community, among other areas, WASH says.
Coffey was selected by a “panel of independent judges,” the company adds. The award recipients will be announced at a June 17 black-tie awards gala in Beverly Hills.
“It's a great personal honor to be recognized by such a prestigious awards program for my work at WASH,” says Coffey, who has served as the company’s president since 2003, later becoming CEO in 2005.
Coffey attributes the success of the company to its people and their “continual attention to innovation.”
During his tenure, Coffey has led the company through much growth, resulting in “more than $650 million of cash distribution to shareholders,” WASH says. In 2008, he also led a change in control from a family-owned to an institutionally owned and professionally managed company, doubling the size of WASH and seeing revenue increase 40% in one 12-month period, the company reports.
Regional award recipients are eligible for consideration for the EY Entrepreneur of the Year national program, according to WASH, with national award recipients to be announced this fall.