EVI Industries Inc. has executed a definitive agreement to acquire K&B Laundry Service, a provider of installation and maintenance services to the industrial and on-premises laundry segments based in North Carolina. With this acquisition, EVI will add 15 commercial laundry technicians and support staff to enhance its capabilities to serve the company’s growing customer base across the southeast region of the United States.
The addition of K&B is consistent with EVI’s long-term growth strategy “to build the largest value-added distributor of commercial laundry products with the most dynamic network of specialized technicians to support commercial laundry customers,” according to the company. Upon completion of the K&B deal, EVI will have acquired 21 commercial laundry businesses.
“Our customers rely on the experience of our sales professionals to plan and design best-in-class laundry facilities,” said Henry M. Nahmad, EVI chairman and chief executive officer. “They also increasingly rely on the capabilities of our highly trained technicians to install and continuously maintain their laundry products. The K&B team strengthens our customer value proposition. We are pleased to welcome Mr. Norman “Bo” Tanner and the K&B team to the EVI family, and look forward to working together in the pursuit of our long-term goals.
“We believe 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,” Nahmad added. “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.”
