EVI Industries Inc. recently announced that it has executed a definitive agreement to acquire ALVF Inc. – dba ALCO Washer Center, a distributor of commercial laundry products and provider of related technical installation and maintenance services to the laundromat and on-premises laundry segments of the commercial laundry industry.
Through ALCO, which is headquartered in New Castle, Pa., EVI increases its customer base and expands its distribution and service footprint in the Northeast region of the United States.
The transaction is expected to close upon the satisfaction of customary closing conditions.
Upon closing, ALCO will join EVI’s Northeast Group. Consistent with EVI’s operating philosophy, ALCO will continue to operate under its current name and from its present location, and have the full extent of EVI’s resources with which to execute on various growth opportunities in its region.
The successful completion of this acquisition will represent EVI’s 25th acquisition of a successful, family-owned commercial laundry business. EVI continues to be the fastest-growing and only listed company devoted to the North American commercial laundry distribution and service industry.
“We believe that the thoughtful execution of our buy-and-build growth strategy has earned us a positive reputation in and around the commercial laundry industry, including among owners of quality businesses,” said EVI Chair and CEO Henry M. Nahmad. “We remain very active in the pursuit of additional investments in other great businesses and – given our record, reputation, and appetite for significant growth – EVI is well-positioned to capitalize on a growing number of opportunities.”
