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EVI Industries to Acquire Laundry Products Distributor Aldrich Clean-Tech Equipment Corp
Tuesday 16 August 2022

US-based laundry and dry cleaning equipment and steam and hot water boilers distributor EVI Industries, Inc. (NYSE American: EVI) has executed a definitive agreement to acquire Massachusetts, US-based commercial laundry products distributor Aldrich Clean-Tech Equipment Corp, the company said.

Aldrich Clean-Tech is also a provider of related installation and maintenance services to commercial laundry customers.

EVI said the acquisition expands its sales and service presence with the addition of eight highly trained and specialized commercial laundry technicians and support staff that will enhance EVI's capabilities to its growing customer base across the northeast region of the United States.

The transaction is expected to close in the next thirty days or upon the satisfaction of all customary closing conditions.

The addition of Aldrich is consistent with EVI's long-term growth strategy to build North America's largest value-added distributor of commercial laundry products and the most dynamic network of specialized commercial laundry technicians through which it may best support commercial laundry customers.

Upon completion of the Aldrich acquisition, EVI will have acquired twenty-two commercial laundry businesses and continues to be the fastest growing and only publicly listed company devoted to the North American commercial laundry distribution and service industry.

EVI Industries, Inc., through its wholly-owned subsidiaries, is a distributor that sells, leases, and rents commercial, industrial, and vended laundry and dry cleaning equipment and steam and hot water boilers manufactured by others, supplies related replacement parts and accessories, designs and plans turn-key laundry, dry cleaning, and boiler systems, and provides installation and maintenance services to thousands of customers, which include commercial, industrial, institutional, government, and retail customers.

These activities are conducted in the United States, Canada, the Caribbean and Latin America.
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Date Published: 16/08/2022

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