EVI Industries Inc. has announced its operating results for the first quarter of its fiscal year ending June 30, 2025. First quarter records were achieved in revenue, gross profit, gross margin, operating profit, net income, and adjusted EBITDA.
The company also completed another acquisition under its buy-and-build growth strategy during the quarter.
Since 2016, EVI has grown from one business operating from a single location in Florida with 31 employees to today encompassing 29 businesses employing nearly 800 associates, including more than 190 sales professionals and more than 400 service personnel.
“Record operating performance in all key financial metrics is a testament to the well-synchronized efforts of our over 750 associates dedicated to serving our customers while executing on a series of initiatives in pursuit of our long-term performance goals,” said EVI Industries Chair and CEO Henry M. Nahmad. “Our confidence in the long-term possibilities for our company and our ability to achieve our performance goals is derived from early successes combined with financial strength and wherewithal, our reputation as a knowledgeable and high-quality buyer and builder of businesses, the expected future impact of promising technologies, and leadership team invested in guiding the company into the future.”
During the first fiscal quarter, the company completed the acquisition of Laundry Pro of Florida, a distributor of commercial laundry products based in Lakeland, Fla. In addition, following the completion of the first fiscal quarter, on November 1, 2024, EVI completed the acquisition of O’Dell Equipment and Supply, a distributor headquartered in Jeffersonville, Ind.
“A cornerstone of our long-term growth strategy is the acquisition of long-standing, often family-owned, businesses,” Nahmad added. “Since 2016, we have acquired 28 businesses. Our strategy includes the preservation of the people, unique culture and legacies of the acquired businesses, with a goal of forming the single largest, most cohesive, and entrepreneurial organization in the North American commercial laundry distribution and service industry.”
