Evi Industries Stock Price, News & Analysis

EVI Industries (NYSE American: EVI) has announced its participation in the Jefferies Industrials Conference on September 5, 2024. Chairman and CEO Henry M. Nahmad will present and host one-on-one meetings at the event. EVI, a commercial laundry equipment distributor and service provider, has been executing a successful buy-and-build strategy, acquiring 27 companies in North America over the past eight years. The company now operates from over 30 distribution locations across 19 states and exports to Latin America and the Caribbean.

EVI's growth strategy has yielded impressive results, with compounded annual growth rates since 2016 of 34% in revenue, 16% in net income, and 31% in Adjusted EBITDA. The company's extensive sales and service organization specializes in planning, designing, selling, installing, and maintaining various types of laundry operations, including industrial, on-premise, vended, and route laundries.

EVI Industries announced the completion of its acquisition of Laundry Pro of Florida, marking EVI's 27th acquisition in the commercial laundry distribution sector and its 11th in the Southeast U.S. region.

This acquisition aligns with EVI's buy-and-build strategy, which focuses on partnering with influential leaders, retaining leadership teams, fostering company culture, and driving growth through collaborative innovation. EVI aims to achieve aggressive growth plans by creating an ownership culture and motivating teams with long-term equity incentives.

EVI Industries (NYSE American: 'EVI') announced its acquisition of Laundry Pro of Florida, a commercial laundry distributor and service provider based in Lakeland, FL. This acquisition strengthens EVI's market presence in Florida, adding a team with strong customer relationships and valuable product lines.

Laundry Pro generated approximately $12 million in revenue for the twelve months ending May 31, 2024. As part of EVI's operating model, Laundry Pro will retain its name and team to ensure continuity.

This acquisition marks EVI's 27th in the commercial laundry sector since 2016. The transaction, expected to close following customary conditions, will be paid in cash. EVI anticipates that Laundry Pro will contribute positively to its fiscal year ending June 30, 2025.

EVI Industries (NYSE American: EVI) has completed the acquisition of Ed Brown Distributors, a Dallas-based provider of commercial laundry products and services. This acquisition, paid in cash, will enhance EVI's capabilities in the central US region. EVI’s Chairman and CEO, Henry M. Nahmad, emphasized that Ed Brown’s existing team and operations will remain unchanged to ensure continuity. Since 2016, EVI has acquired 26 businesses, reinforcing its position as a leader in the North American commercial laundry distribution and service industry. EVI's strategy focuses on partnering with influential businesses, retaining leadership, fostering innovation, and pursuing aggressive growth plans.

EVI Industries, Inc. reported record revenue, gross profit, and operating cash flows for the nine-month period ended March 31, 2024. Despite a decline in revenue for the three-month period, the company achieved a record gross margin. EVI has been investing in technology initiatives to drive future growth and profitability. The company completed an acquisition during the period and increased its operating cash flows significantly. EVI's focus on long-term growth, financial strength, and strategic acquisitions position it well for the future.

EVI Industries, Inc. (NYSE American: EVI) announced its participation in the 18th Annual Barrington Research Virtual Spring Investment Conference. The Chairman and CEO, Henry M. Nahmad, will host one-on-one meetings with investors on May 16, 2024. With a focus on long-term growth and shareholder value creation, EVI has acquired 25 commercial laundry distributors and service providers in North America in the past seven years. The company operates from over 30 distribution locations, serving 19 states and exporting to Latin America and the Caribbean. EVI's revenue, net income, and Adjusted EBITDA have shown impressive growth rates since 2016.