EVI Industries to acquire ALCO Washer Center to expand Northeast US footprint
EVI Industries, Inc. (NYSE American: EVI) made a notable announcement, declaring that it has executed a definitive agreement for the acquisition of New Castle, Pennsylvania-based ALCO Washer Center. As a distributor of commercial laundry products and provider of related technical installation and maintenance services to the on-premise and vended laundry segments, ALCO Washer Center represents a strategic enhancement to EVI Industries’ customer base and expansion of its distribution and service reach in the northeast region of the United States.
Post-acquisition, ALCO Washer Center is set to join EVI Industries’ Northeast Group. Staying true to EVI Industries’ operating philosophy, ALCO Washer Center will maintain its existing name and continue operating from its current location. Moreover, it will benefit from the comprehensive resources of EVI Industries to capitalize on various growth opportunities in its region.
This acquisition marks EVI Industries’ twenty-fifth purchase of a successful family-owned commercial laundry business. Thanks to its successful acquisition program and organic growth initiatives, EVI Industries continues to reinforce its position as the fastest growing and the only listed company in the North American commercial laundry distribution and service industry.
The closure of this transaction depends on the satisfaction of customary closing conditions. With this strategic move, EVI Industries anticipates a promising future with broader customer base and extended service areas.