EVI Industries Inc. recently announced that it has executed a definitive agreement to acquire Laundry Pro of Florida Inc., a laundry distributorship headquartered in Lakeland, Fla.
The addition of Laundry Pro increases EVI’s market share in the state of Florida and includes an experienced team with long-standing customer relationships and strategically valuable product lines, according to the company. EVI stated it believes that – combined with EVI’s southeast operations, the rapid deployment of its customer-facing technologies, and other benefits of being an EVI company – Laundry Pro will “immediately yield growth and profitability” for EVI.
As is customary under EVI’s operating model, Laundry Pro will operate under its existing name and with its current team to provide continuity to customers, employees, and vendor partners. For the 12 months ended May 31, 2024, Laundry Pro generated revenues of approximately $12 million, which were derived from the sale of equipment, parts, and the performance of installation and maintenance services. Upon completion of the Laundry Pro acquisition, EVI will have acquired 27 commercial laundry businesses.
“The achievement of our long-term goals requires time, patience, and thoughtful execution,” said EVI Chair and CEO Henry M. Nahmad. “Our operating philosophy is a natural fit for entrepreneurs and industry professionals who seek to build their companies and careers as part of a broad family with common goals, principles, and values. We appreciate the thoughtfulness Ron Jansen and his family undertook throughout this process. We are pleased to welcome the Laundry Pro team to the EVI family, and we look forward to their valuable contributions over the long-term.”
The transaction is expected to close upon the satisfaction of customary closing conditions. EVI anticipates Laundry Pro’s results of operations to be accretive to its fiscal year ended June 30, 2025.
