close
close

EVI Industries Completes Acquisition of Florida-based Laundry Pro

Posted on by darion





EVI Industries announced the completion of the acquisition of Laundry Pro of Florida. This is EVI’s 27th acquisition in the commercial laundry distribution sector and 11th in the Southeast United States.

This acquisition is consistent with EVI’s “buy and build” strategy, which focuses on partnering with influential leaders, retaining management teams, cultivating company culture, and driving growth through co-innovation. EVI aims to execute aggressive growth plans by creating a culture of ownership and motivating teams with long-term equity incentives.

Positive


  • EVI Industries completes 27th acquisition, strengthening its market presence and expansion strategy.


  • The acquisition of Laundry Pro of Florida strengthens EVI’s presence in the Southeast, a key growth region.


Acquisition of EVI Industries Laundry Pro of Florida represents a strategic growth in the distribution and laundry services industry. This acquisition, the 27th in their portfolio, underscores EVI’s aggressive strategy buy and build strategyThis strategy involves acquiring successful companies and leveraging their existing leadership to drive growth and innovation.

From a financial perspective, these acquisitions can provide economy of scalewhich allows EVI to reduce costs and increase profitability through consolidated operations. However, investors should also be cautious about the company’s ability to successfully integrate new acquisitions. Frequent acquisitions are present integration riskwhere there may be differences in company culture and operational inefficiencies that can negatively impact results.

It is worth examining how EVI has historically managed its acquisitions and whether it has demonstrated the ability to maintain or improve profitability post-acquisition. For retail investors, understanding this integration ability is important because it can impact long term profitability and stock market results.

Regional expansion:With this acquisition, EVI strengthens its presence in the Southeast region, having already made eleven acquisitions in the area. This regional focus is likely to build a strong market presence and potential dominance in the regional market, leading to increased market share and customer base in a strategic location.

For investors, this steady regional growth could be a sign of potential market domination in specific geographies, leading to increased brand recognition and customer loyalty. However, they should be aware of potential market saturation and whether EVI’s growth strategy is scalable beyond the Southeast. Understanding the competitive landscape in this region can provide insight into EVI’s future growth potential and market positioning.









MIAMI–(BUSINESS WIRE)– EVI Industries, Inc. (NYSE American: “EVI” or the “Company”) announced today that it has completed its previously announced acquisition Lakeland, Florida based in Laundry Pro FloridaInc. (“Laundry Pro”). Laundry Pro is the 27th companyt acquisition in the distribution and laundry services industry and the eleventh (11t) in the south-eastern region United States.

EVI’s “Buy and Build” philosophy

Key elements of EVI’s buy and build strategy include:

  • Identify and collaborate with large enterprises led by influential leaders,

  • Retain your leadership team, respect the company culture and give them power,

  • Collaborate on new and transformative ideas to nurture a spirit of growth and innovation,

  • Execute aggressive growth plans and help the management team achieve goals,

  • Create a culture of accountability by motivating your team with long-term equity.

About EVI Industries

EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor and provider of consulting and technical services. Through its extensive sales organization, the Company provides its customers with planning, design and consulting services related to their laundry operations. The Company sells and/or leases laundry equipment to its customers, specializing in washing, drying, finishing, material handling, water heating, power generation and water reuse applications. To support its product line, the Company sells related parts and accessories. In addition, through its extensive network of laundry technicians, the Company provides its customers with installation, maintenance and repair services. The Company’s customers include retail, commercial, industrial, institutional and government customers. Customer purchases include parts and accessories, single or multiple units of equipment, large complex systems, and the purchase of the Company’s installation, maintenance and repair services.

Forward-looking statements

Except for historical matters contained in this press release, the statements contained in this press release are forward-looking in nature and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause EVI’s actual results, trends, performance or achievements or industry trends and results to be different from any future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the acquisition of Laundry Pro may not be accretive to EVI’s earnings or otherwise have a positive effect on EVI’s results of operations or financial condition to the extent anticipated or at all, risks related to integration, risks related to Laundry Pro’s business, operations and prospects and EVI’s plans with respect thereto. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023, filed with the SEC on October 5, 2023, as amended by its Annual Report on Form 10-K/A for the fiscal year ended June 30, 2023, filed with the SEC on October 27, 2023. Many of these risks and factors are beyond EVI’s control. In addition, past results and perceived trends may not be indicative of future results. EVI cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date hereof. EVI does not undertake any obligation, and does not assume any duty, to update or supplement any forward-looking statements, whether as a result of changes in circumstances, new information, subsequent events or otherwise, unless required by law.

EVI Industries, Inc.

[email protected]

(305) 402-9300

Source: EVI Industries, Inc.








Frequently asked questions



What was the most recent acquisition by EVI Industries?

EVI Industries has completed the acquisition of Florida-based Laundry Pro.


How many acquisitions has EVI Industries made in the commercial laundry sector?

EVI Industries has made 27 acquisitions in the distribution and laundry services industry.


How many acquisitions has EVI Industries completed in the Southeast United States region?

EVI Industries completed 11 acquisitions in the Southeast United States region.


What is EVI Industries’ acquisition strategy?

EVI Industries pursues an acquisition and development strategy with a focus on partnering with influential leaders, retaining management teams, fostering company culture and driving growth through co-innovation.


What is the stock symbol of EVI Industries?

The stock symbol for EVI Industries is EVI.