EVI Industries, Inc. (EVI), through its wholly-owned subsidiaries, is a value-added distributor, and provides advisory and technical services.
Through its vast sales organization, 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 reus...
EVI Industries, Inc. (EVI), through its wholly-owned subsidiaries, is a value-added distributor, and provides advisory and technical services.
Through its vast sales organization, 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 the support of the suite of products it offers, the company sells related parts and accessories. Additionally, through the company’s robust network of commercial laundry technicians, the company provides its customers with installation, maintenance, and repair services.
The company’s customers include government, institutional, industrial, commercial and retail customers. Product purchases made by customers range from parts and accessories, to single or multiple units of equipment, to large complex systems. The company also provides its customers with the services described above.
Beginning in 2015, the company implemented a ‘buy-and-build’ growth strategy which includes (i) the consideration and pursuit of acquisitions and other strategic transactions which management believes may complement the company’s existing business or otherwise offer growth opportunities for, or benefit, the company and (ii) the implementation of a growth culture at acquired businesses based on the exchange of ideas and business concepts among the management teams of the company and the acquired businesses as well as through certain additional initiatives, which may include investments in additional sales and service personnel, new product lines, enhanced service operations and capabilities, new and improved facilities, and advanced technologies.
Products and Services
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 the support of the suite of products it offers, the company sells related parts and accessories. Additionally, through the company’s robust network of commercial laundry technicians, the company provides its customers with installation, maintenance, and repair services.
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, many of which are designed to reduce utility and water consumption. Finishing equipment distributed by the company includes sheet feeders, flatwork ironers, automatic sheet folders, and stackers. Material handling equipment distributed by the company includes conveyor and rail systems. Mechanical equipment distributed by the company includes boilers, hot water/steam systems, power generation products, water purification, reuse and recycling systems and air compressors. Boiler products distributed by the company includes high efficiency, low emission steam boilers, steam systems and hot water systems that are used in the laundry and dry cleaning industry for temperature control, heating, pressing and de-wrinkling, and in the healthcare industry, food and beverage industry, and other industrial markets, for sterilization, product sealing and other purposes. The company also sells replacement parts and accessories for the products it distributes.
The company seeks to position and price its products to appeal to customers in each of the high-end, mid-range and value-priced markets, as the products are generally offered in a wide range of price points to address the needs of a diverse customer base. The company’s portfolio of products affords its customers a ‘one-stop shop’ for commercial, industrial and vended laundry and dry cleaning machines, boilers and accessories and that, as a result, the company is able to attract and support potential customers who can choose from the company’s broad product line.
In addition to its distribution of products, the company provides installation, maintenance and repair services to its customers.
Buy-and-Build Growth Strategy
In addition to its pursuit of organic growth initiatives, the company implemented a ‘buy-and-build’ growth strategy in 2015. The ‘buy’ component of the strategy includes the consideration and pursuit of acquisitions and other strategic transactions which management believes would complement the company’s existing business or otherwise offer growth opportunities for, or benefit, the company. The company is disciplined and conservative in its consideration of acquisitions and generally seeks to identify opportunities that fit certain financial and strategic criteria. The ‘build’ component of the strategy involves implementing a growth culture at acquired businesses based on the exchange of ideas and business concepts among the management teams of the company and the acquired businesses, as well as through certain initiatives, which may include investments in additional sales and service personnel, new product lines, enhanced service operations and capabilities, new and improved facilities, and advanced technologies.
Customers and Markets
The company’s customer base consists of approximately 55,000 customers located primarily in the United States, Canada, the Caribbean, and Latin America.
The company’s commercial and industrial laundry equipment and boilers are sold or leased to a wide range of customers, including but not limited to, vended laundry facilities, industrial laundry facilities, government institutions, correctional facilities, hospitals, hospital combines, nursing homes, veterinary clinics, professional sports franchises, educational institutions, hotels, motels, food and beverage establishments, cruise lines, and specialized users.
Sales, Marketing and Customer Support
The company employs sales personnel to market its products in the United States, Canada, the Caribbean, and Latin America. The company has exclusive and nonexclusive distribution rights to market its products. Orders for equipment and replacement parts and accessories are generally obtained by telephone, and e-mail inquiries originated by the customer or by the company, from existing customer relationships and from newly formed customer relationships. The company supports its sales and leasing activities through its websites and by advertising in trade publications, participating in trade shows and engaging in regional promotions and incentive programs.
Foreign Sales
Substantially all of the company’s revenues from foreign activities relate to the sale of commercial and industrial laundry and dry cleaning equipment and boilers to customers in Canada, the Caribbean, and Latin America.
All of the company’s foreign sales require the customer to make payment in United States dollars. Foreign sales may be affected by the strength of the United States dollar relative to the currencies of the countries in which the company’s customers are located, as well as the strength of the economies of the countries in which the company’s customers are located.
Sources of Supply
The company purchases commercial and industrial laundry products, dry cleaning machines, boilers and other products for distribution from a number of manufacturers and suppliers. The major manufacturers of the products sold by the company is American Dryer Corporation, Chicago Dryer Company, Cleaver Brooks Inc., Continental Girbau, Inc., Dexter Laundry, Inc., FMB Group, Fulton Thermal Corp., Kannegiesser ETECH, Maytag Corporation, Pellerin Milnor Corporation, Unipress Corporation and Whirlpool Corporation. Purchases from four manufacturers accounted for a total of approximately 73% of the company’s product purchases for fiscal 2024. The company has contracts with several of the manufacturers and suppliers of the products which the company sells and has established, long-standing relationships with most of its manufacturers and suppliers.
History
The company was founded in 1959. It was incorporated under the laws of the state of Delaware in 1963 under the name Metro-Tel Corp. and changed its name to DRYCLEAN USA, Inc. in 1999. In 2009, the company changed its name to EnviroStar, Inc. Further, the company changed its name to EVI Industries, Inc. in December 2018.
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