EVI Industries, Inc. completed the acquisition of ALVF, Inc. for $1.2 million.
September 31, 2023
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EVI Industries, Inc. (NYSEAM:EVI) executed a definitive agreement to acquire ALCO Washer Center on July 31, 2023. Upon closing, ALCO will join EVI?s Northeast Group. Consistent with EVI?s operating philosophy, ALCO will continue to operate under its current name and from its present location, and have the full extent of EVI?s resources with which to execute on various growth opportunities in its region. The transaction is expected to close upon the satisfaction of customary closing conditions.
EVI Industries, Inc. (NYSEAM:EVI) completed the acquisition of ALVF, Inc. for $1.2 million on September 1, 2023. The consideration paid by the Company in connection with the acquisition consisted of $987,000 in cash and 8,621 shares of the Company?s common stock, with an acquisition date fair value of approximately $229,000.
EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor, and provides advisory and technical services. The Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. The commercial and industrial laundry equipment distributed by the Company includes washroom, finishing, material handling, and mechanical equipment such as washers and dryers, tunnel systems and vended machines. The finishing equipment distributed by the Company includes sheet feeders, flatwork ironers, automatic sheet folders, and stackers. It also provides its customers with installation, maintenance, and repair services. Its customers include government, institutional, industrial, commercial, and retail customers.
EVI INDUSTRIES, INC. 
