EnviroStar (EVI) announced that Symmetric Capital acquired a majority of stakes held by president and CEO Michael Steiner and his brother Robert Steiner. Following the transaction, Symmetric Capital will hold a 40.4% stake in EVI, Michael Steiner will retain 8.5% and Robert Steiner will own 1.4%. Symmetric Capital's Henry Nahmad was named president, board chairman and CEO of EVI, succeeding Michael Steiner who has been appointed as executive vice president and chief operating officer.
Previously, Nahmad served as CEO of food safety company Chemstar Corp.
EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor and a provider of 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. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Companyâs robust network of commercial laundry technicians, it provides its customers with installation, maintenance, and repair services. It provides its suite of products and services to the replacement and new construction markets for commercial, industrial, vended, and route laundry applications. Its customers include retail, commercial, industrial, institutional, and government customers.