EVI Industries Inc., a commercial laundry distributor headquartered in Miami, recently announced that it has executed a definitive purchase agreement to acquire substantially all of the assets and certain liabilities of Commercial Laundry Products Inc., Professional Laundry Systems of PA Inc. and Professional Laundry Systems West Inc. – collectively, “PLS.”
PLS is a New York-based distributor of commercial and vended laundry products and a provider of related installation and maintenance services.
The purchase was made using a combination of cash and EVI common stock.
“We are honored to join the EVI family of commercial laundry businesses,” said PLS co-owners Alex Harris and Paul Cousins in a joint statement. “We are excited about the new opportunities available to our employees, and we look forward to working with the EVI businesses and our loyal suppliers in the pursuit of long-term growth.”
Given EVI’s recent acquisition of PAC Industries in February 2019, EVI noted that the addition of PLS is consistent with the company’s stated goal to grow its sales and service operations across the Northeast.
The acquired companies will operate under the name “Professional Laundry Systems,” with its current team of more than 15 laundry professionals and with the support and resources provided by EVI.
“Alex Harris and Paul Cousins built a successful business servicing thousands of commercial laundry customers in the Northeast,” said Henry M. Nahmad, EVI’s chairman and CEO. “We welcome them and their team to the EVI family and look forward to working together to build PLS.”
The transaction is expected to close upon the satisfaction of customary closing conditions.
EVI also owns Washington Automated, Skyline Equipment, Worldwide Laundry, Industrial Laundry Services, Scott Equipment, Aadvantage Laundry Systems, Tri-State Technical Services, Martin-Ray Laundry Systems and Western State Design.
