EVI Industries Completes Acquisition of ASN Laundry Group
EVI Industries, Inc. has announced that it simultaneously executed a definitive asset purchase agreement and completed the acquisition of ASN Laundry Group, a New York-based distributor of commercial laundry products and a provider of related technical installation and maintenance services.
ASN is EVI’s 31st acquisition in the commercial laundry distribution and service industry. The addition of ASN increases EVI’s presence and market share in the state of New York and will enable the company to provide increased customer service.
Henry M. Nahmad, EVI’s chairman and chief executive officer, commented: “This acquisition is about more than expanding our footprint—it is about investing in people. Customers do not buy brands; they buy trust, relationships, and expertise. By bringing together the entrepreneurial spirit of 31 family-owned businesses, the salespeople, technicians, and specialists who make those solutions real, and the most comprehensive portfolio of commercial laundry products in North America, we are the only company capable of delivering any solution our customers need. Our strategy empowers our distributors to do what they do best: help customers plan, build, and grow with confidence.”
EVI’s Buy and Build Philosophy
Key components of EVI’s buy-and-build strategy include:
- Identify and partner with great businesses led by influential leaders,
- Retain the leadership team, honor the company culture and empower them,
- Collaborate on new and transformative ideas to foster a spirit of growth and innovation,
- Pursue aggressive growth plans and help the leadership team achieve their goals, and
- Create an ownership culture by motivating the team with long-term equity.
About EVI Industries
EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor and a provider of advisory and technical services. Through its vast sales organization, the company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the company sells related parts and accessories. Additionally, through the company’s robust network of commercial 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. Purchases made by customers range from parts and accessories to single or multiple units of equipment, to large complex systems as well as the purchase of the company’s installation, maintenance, and repair services. Visit https://www.evi-ind.com/,
For more information contact Craig Ettelman – Director of Finance and Investor Relations, (305) 402-9300, info@evi-ind.com.