EVI Industries to acquire Laundry Pro of Florida, terms not disclosed

EVI Industries executed a definitive agreement to acquire Lakeland, FL based Laundry Pro of Florida, a distributor of commercial laundry products and a provider of related installation and maintenance services. The addition of Laundry Pro significantly increases EVI‘s market share in the state of Florida and includes an experienced team with longstanding customer relationships and strategically valuable product lines. The Company believes that combined with EVI’s southeast operations, the rapid deployment of its customer facing technologies, and with other benefits of being an EVI company, Laundry Pro will enhance its customer value proposition and 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 twelve months ended May 31, 2024, Laundry Pro generated revenues of approximately $12M, 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 twenty-seven commercial laundry businesses. The transaction is expected to close upon the satisfaction of customary closing conditions. EVI expects Laundry Pro’s results of operations to be accretive to its fiscal year ended June 30, 2025.