EVI Industries Inc (EVI) Quote

EVI Industries to Acquire Laundry Systems of Tennessee and Affiliates

EVI Industries, Inc. (NYSE American: EVI) announced today that it executed a definitive merger agreement to acquire all of the outstanding shares of Sevierville, Tennessee based Laundry Systems of Tennessee and affiliates (the “Company”), a distributor of commercial, industrial, and vended laundry products and a provider of related installation and maintenance services to the new and replacement markets of the commercial laundry industry. The Company also leases commercial laundry equipment and sells chemicals and other laundry consumables to its customers. For over twenty-years, Laundry Systems of Tennessee has sustained a reputation and tradition of providing exceptional service while representing quality products to a diverse customer base. Terms of the acquisition were not disclosed. Consideration of the purchase included a combination of cash and EVI common stock.

This acquisition expands EVI’s sales and service presence in the Southeast U.S., which coincides with EVI’s strategy to build density in geographic markets to improve customer service and through which EVI may pursue new growth opportunities. Given EVI’s operating model and to ensure continuity to the Company’s customers, employees, and trusted vendor partners, Laundry Systems of Tennessee will operate under its existing name and under the direction of Jeff and Tonya Large, President and Vice President of the Company, respectively.

Henry M. Nahmad, EVI’s Chairman and CEO, said: “We are honored to join the Large family and their team at Laundry Systems of Tennessee. Jeff and Tonya are successful entrepreneurs with a continued passion and commitment to growth. We are excited to collaborate with them and their team in the pursuit of our mutual long-term growth goals.”

EVI’s Buy-and-Build Strategy

Since November of 2016, EVI has acquired twelve businesses and is the fastest growing company in the commercial laundry industry with a four-year compounded annual growth rate for revenue of over 70%. EVI’s buy-and-build strategy includes, identifying and partnering with great businesses, retaining and empowering entrepreneurial leadership teams, allocating resources to accomplish high-growth objectives, establishing an ownership culture that rewards performance, and promoting collaboration in the pursuit of best operating practices, innovative ideas, and growth.

Mr. Nahmad added: “We remain very active in our pursuit of additional acquisitions of and strategic investments in other great businesses in our industry and in those industries that meet our financial and strategic criteria. Given our record, reputation, and appetite for significant growth, we believe EVI is well-positioned to capitalize on a growing number of opportunities.”

The transaction is expected to close upon the satisfaction of closing conditions.

About EVI Industries

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.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward- looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EVI Industries, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the proposed mergers with Laundry Systems of Tennessee and Affiliates may not be accretive to EVI Industries earnings or otherwise have a positive impact on EVI Industries operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of Laundry Systems of Tennessee and Affiliates and EVI Industries plans with respect thereto, the risk that the conditions to closing the proposed mergers may not be satisfied and that the proposed mergers may not otherwise be consummated when expected, in accordance with the contemplated terms, or at all, and the risks related to EVI Industries operations, results, financial condition, financial resources, and growth strategy, including EVI Industries ability to find and complete other acquisition or merger opportunities, and the impact of any such acquisitions or mergers on EVI Industries operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI Industries filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI Industries Annual Report on Form 10-K for the fiscal year ended June 30, 2019, filed with the SEC on September 13, 2019, as amended by its Annual Report on Form 10-K/A for the fiscal year ended June 30, 2019, filed with the SEC on October 28, 2019. Many of these risks and factors are beyond EVI Industries control. In addition, past performance and perceived trends may not be indicative of future results. EVI Industries cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward- looking statement, which speaks only as of the date made. EVI Industries does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



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EVI Industries, Inc.
Henry M. Nahmad (305) 402-9300
Sloan Bohlen (203) 428-3210

EVI Industries Sets Records for First Quarter of Fiscal 2020


EVI Industries (AMEX:EVI)
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Today : Wednesday 13 November 2019

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EVI Industries, Inc. (NYSE American: EVI) announced today record results for the three months ended September 30, 2019, including records in revenue, gross profit, gross margin, and adjusted EBITDA. Operating performance for three months ended September 30, 2019 reflects the results of the Company’s buy-and-build growth strategy.

Earnings Conference Call

The Company has provided a pre-recorded earnings conference call and business update in the “Investors” section of the Company’s website at www.evi-ind.com or by clicking here https://ir.evi-ind.com/message-from-the-ceo.

Financial Performance
(compared to the same period of the prior fiscal year)

First Quarter Results

Revenue increased 28% to a record $56 million,
Gross profit increased 42% to a record $14 million,
Gross margin increased from 22% to a record 25%,
Operating income decreased 11% to $1.3 million,
Net income decreased 27% to $0.6 million, and
Adjusted EBITDA increased 7% to a record $2.5 million.
Highlights to Financial Performance

Acquisitions

On August 1, 2019, the Company acquired substantially all of the assets of New York-based Commercial Laundry Products, Inc., Professional Laundry Systems of PA, Inc., and Professional Laundry Systems West, Inc. (collectively, “PLS”). The addition of PLS expands the Company’s geographic footprint and increases its market share in the Northeast.

Henry M. Nahmad, Chairman and CEO commented: “We continue to identify and pursue many acquisitions and strategic transactions in the commercial laundry industry and across a wide-range of exciting and available opportunities in related industries. Given our Company’s reputation, growth record, financial resources, entrepreneurial culture, and long-term growth objectives, we believe it is an ideal time for quality independent distributors and service providers to join the EVI family and pursue additional growth with the full extent of our resources.”

Revenue

For the three months ended September 30, 2019, revenues increased 28% from $43 million to a record $56 million. The increase in revenue was primarily due to the results of operations of acquired businesses that were not consolidated into the Company’s financial statements for all or part of the prior year period.

Gross Profit and Gross Margin

For the three months ended September 30, 2019, gross profit increased 42% from $10 million to a record $14 million. For the three months ended September 30, 2019, gross margin increased 240-basis points from 22% to 25%. The increase in gross margin was primarily due to EVI’s engagement during the three months ended September 30, 2018 in a larger number of longer-term contracts, which generally result in a lower gross margin as compared to other equipment sales. In the absence of such longer-term contracts, gross margins nevertheless increased by 30 basis points to 25.3%.

Operating Income

Operating income decreased $0.2 million primarily due to continued investment in the Company’s businesses as part of its long-term growth strategy, including expenses related to recruiting, training, and deploying sales and service professionals, cultivating the future leaders of our businesses, and developing and establishing best operating practices through collaboration. The Company’s operating results also reflect increased investments aimed to modernize its businesses through the implementation of advanced technologies from which the Company may achieve operating efficiencies. Additionally, operating expenses have increased due to the Company’s growth, including increased public company and related expenses, and expenses incurred in connection with the pursuit of various acquisition and strategic opportunities. EVI believes these investments, initiatives and expenses will have a positive impact on the Company’s ability to achieve its long-term growth goals.

Henry M. Nahmad, Chairman and CEO commented: “We are pleased to report a strong start to fiscal 2020 and continued momentum following a record growth year in fiscal 2019. We continue to seek attractive investments across our businesses in the pursuit of future growth and do not believe that we have begun to reap the full benefits of our growing size. We intend for EVI to continue to thoughtfully build its commercial laundry business across North America and believe that our Company is well positioned to pursue buy and build opportunities in complementary product and service industries.”

Use of Non-GAAP Financial Information

In this press release, EVI discloses the non-GAAP financial measure of Adjusted EBITDA, which EVI defines as earnings before interest, taxes, depreciation, amortization, and amortization of share-based compensation. Adjusted EBITDA is determined by adding interest expense, income taxes, depreciation, amortization, and amortization of share-based compensation to net income as shown in the attached Condensed Consolidated Earnings before Interest, Taxes, Depreciation, Amortization, and Amortization of Share-based Compensation. EVI considers Adjusted EBITDA to be an important indicator of its operating performance. Adjusted EBITDA is also used by companies, lenders, investors and others because it excludes certain items that can vary widely across different industries or among companies within the same industry. For example, interest expense can be dependent on a company’s capital structure, debt levels and credit ratings, and the tax positions of companies can vary because of their differing abilities to take advantage of tax benefits and because of the tax policies of the jurisdictions in which they operate. Adjusted EBITDA should not be considered as an alternative to net income or any other measure of financial performance or liquidity, including cash flow, derived in accordance with GAAP, or to any other method of analyzing EVI’s results as reported under GAAP. In addition, EVI’s definition of Adjusted EBITDA may not be comparable to definitions of Adjusted EBITDA or other similarly titled measures used by other companies.

About EVI Industries

EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor, and a provider of advisory and technical services. Through the Company’s vast sales organization, it provides its customers 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 Company’s robust network of commercial laundry technicians, the Company provides its customers installation, maintenance, and repair services. The Company’s customers include retail, commercial, industrial, institutional, and government customers. Purchases made by customers range from parts and accessories, to single or multiple units of equipment, to large complex systems, as well as installation, maintenance and repair services.

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EVI Industries Sets Records for Fourth Quarter and Fiscal Year 2019

EVI Industries, Inc. (NYSE American: EVI) announced today record results for the fiscal year and three-months ended June 30, 2019. The record results for both the fiscal year and three-months ended June 30, 2019, reflect the Company’s consistent execution of its buy-and-build growth strategy.

Earnings Conference Call

The Company has provided a pre-recorded earnings conference call and business update in the “Investors” section of the Company’s website at www.evi-ind.com or by clicking here https://ir.evi-ind.com/message-from-the-ceo.

Financial Performance

(compared to the same period of the prior fiscal year)

Fourth Quarter Results

Revenue increased 47% to a record $65 million,
Gross profit increased 43% to a record $16 million,
Operating income increased 27% to a record $2.4 million,
Net income increased 61% to $1.2 million, and
Adjusted EBITDA increased 30% to a record $3.7 million.
Fiscal Year 2019 Results

Revenue increased 52% to a record $228 million,
Gross profit increased 44% to a record $53 million,
Operating income was $7.0 million compared to $6.9 million,
Net income was $3.7 million compared to 3.9 million, and
Adjusted EBITDA increased 14% to a record $11.5 million.
Highlights to Financial Performance

EVI’s record results for the fourth quarter and fiscal year 2019 reflect the Company’s consistent execution of its buy-and-build growth strategy. The record performance, however, only includes twelve months of results of six of the Company’s thirteen businesses. The Company continues to seek attractive investments across its businesses in the pursuit of future growth and does not believe that it has begun to reap the full benefits of its growing size.

Acquisitions

During the fiscal year 2019, EVI completed a record six acquisitions and continues to execute its long-term growth strategy.

Revenue

For the fiscal year and three-months ended June 30, 2019, revenues increased $78.3 million, or 52%, to a record $228 million and increased $20.9 million, or 47%, to a record $65 million, compared to the fiscal year and three months ended June 30, 2018, respectively. The increase in revenue was primarily due to the results of operations of acquired businesses that were not consolidated into the Company’s financial statements for all or part of the prior periods.

Gross Profit and Gross Margin

For the fiscal year and three-months ended June 30, 2019, gross profit increased $16.2 million, or 44%, to a record $53 million and increased $4.8 million, or 43%, to a record $16 million, compared to the fiscal year and three months ended June 30, 2018, respectively. For the fiscal year and three-months ended June 30, 2019, gross margin decreased from 24.3% to 23.1% and from 25.3% to 24.5%, compared to the fiscal year and three months ended June 30, 2018, respectively. The decrease in gross margin was primarily due to EVI’s increased engagement in longer-term federal government contracts. Excluding these longer-term federal government contracts, gross margins for the fiscal year and three months ended June 30, 2019 would have been 25.2% and 24.8%, respectively.

Operating Expenses

Operating expenses increased $16.1 million, or 55%, and $4.3 million, or 46%, for the fiscal year and three-months ended June 30, 2019, compared to the fiscal year and three months ended June 30, 2018, respectively. The increase in operating expenses was largely attributable to expenses incurred by the Company in connection with its growth strategy, including: (1) additional operating expenses associated with acquired businesses not reflected in prior fiscal year or period operating expenses, (2) additional operating expenses at the acquired businesses in pursuit of future growth and in support of the Company’s growing operations, (3) increases in operating expenses in connection with the Company’s growth, including greater accounting fees, legal fees, and insurance costs, (4) the addition of sales, service, and operations support professionals and related costs, as total personnel at June 30, 2019 increased by 71% compared to total personnel at June 30, 2018, with 76% of such increase attributable to sales and service related personnel, (5) increased investments in sales, service, and operations related technologies in support of the Company’s buy-and-build growth strategy, and (6) an increase in non-cash amortization expense related to the intangible assets the Company acquired in connection with its acquisitions and an increase in non-cash share-based compensation. EVI believes these investments, initiatives and expenses will have a positive impact on the Company’s ability to achieve its long-term growth goals.

Henry M. Nahmad, Chairman and CEO commented: “We are pleased with the execution of our growth strategy. The records we continue to set have created a reputation for our Company that we believe will continue to encourage successful business owners, loyal suppliers, and valued customers to invest in and do business with EVI. We intend to continue to execute our growth strategy and build upon our growth record by pursuing available opportunities for growth in our and related industries.”

EVI to Attend Baird’s 2019 Industrials Conference on November 5-7, 2019

The Company will attend and host one-on-one meetings with investors during the conference dates.................

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EVI Industries Sets Records for Revenues and Gross Profit During the Second Quarter

EVI Industries, Inc. (NYSE American: EVI) announced today its results for the six and three-month periods ended December 31, 2018. The results, including record revenues, gross profit, and Adjusted EBITDA, reflect the Company’s consistent execution of its buy-and-build growth strategy.

Financial Performance

(compared to the comparable period of the prior fiscal year)

Three Month Results

Revenue increased 68% to a record $61 million,
Gross profit increased 66% to a record $14 million,
Gross margin was unchanged at 23%,
Operating income was lower by 5% to $2.1 million,
Net income was lower by 16% to $1.3 million, and
Adjusted EBITDA increased 10% to a record $3.2 million.
Six Month Results

Revenue increased 67% to a record $104 million,
Gross profit increased 65% to a record $23 million,
Gross margin was unchanged at 23%,
Operating income increased 11% to a record $3.5 million,
Net income was unchanged at $2.1 million, and
Adjusted EBITDA increased 25% to a record $5.6 million.
For the six and three-month periods ended December 31, 2018, the increases in revenue and gross profit were primarily due to the results of operations of acquired businesses, including Tri-State Technical Services (which the Company acquired on October 31, 2017), AAdvantage Laundry Systems (which the Company acquired on February 9, 2018), and Scott Equipment (which the Company acquired on September 12, 2018). Operating income for the six and three-month periods ended December 31. 2018 were impacted by increases in operating expenses due in large part to the consolidation of selling, general and administrative expenses of the Company’s acquired businesses and an increase in non-cash amortization expense specifically related to the intangible assets the Company acquired in connection with its acquisitions. Additionally, corporate operating expenses at the parent company level increased in support of the Company’s execution of its buy-and-build growth strategy and as a result of the growth in the Company’s market capitalization. As a result, during the six and three-month periods ended December 31, 2018, operating expenses as a percentage of revenues increased from 18% to 19% and from 17% to 19%, respectively, when compared to the same periods of the prior fiscal year.

Henry M. Nahmad, Chairman, Chief Executive Officer and President of EVI, commented: “We continue to invest in the infrastructure necessary to support our growth engine and we believe that over time, as revenues ramp up, operating expenses as a percentage of revenues will decrease.”

It is important to note that the timing of revenue recognition related to the sale and installation of commercial, industrial, and vended laundry products are occasionally impacted by delays related to installation schedules. Also, under the new accounting standards for revenue recognition adopted by the Company on July 1, 2018, gross profit on delivered, but uninstalled equipment sold under longer-termed contracts is deferred and recognized as installation is completed instead of upon the shipment of equipment.

Acquisition Record and Pipeline

During the six-month period ended December 31, 2018, EVI completed five acquisitions, three of which were completed during the three-month period ended December 31, 2018. EVI believes that it continues to appeal to owners of businesses in the spaces in which EVI operates due to, among other things, EVI’s entrepreneurial culture, decentralized operating model, and long-term growth plans. Further, given EVI’s track record of completing eleven acquisitions since the inception of its buy-and-build growth strategy in 2015, EVI has demonstrated the ability to effectively source, assess, and acquire high-quality businesses that meet its leadership, financial, and strategic criteria. Consequently, EVI believes that there exists a deep pipeline of acquisition and other strategic opportunities available to it.

Henry M. Nahmad, Chairman, Chief Executive Officer and President of EVI, commented: “The EVI family of businesses continues to grow and so do the number and size of quality opportunities we believe to be available to our Company. We have only scratched the surface of what is possible in terms of size, scale, and value creation. Our team continues to exercise patience, persistence, and thoughtful execution in the pursuit of our long-term growth goals and we are excited about our future.”

Other Highlights

Subsequent Acquisition

As previously disclosed, subsequent to the completion of the Company’s second fiscal quarter, the Company completed its acquisition of PAC Industries, Inc. The acquisition of PAC was completed on February 6, 2019 and represents the Company’s first acquisition in the northeast region, where the Company expects to continue to pursue opportunities under its buy-and-build growth strategy.

Special Cash Dividend

During the three-month period ended December 31. 2018, the Company’s Board of Directors approved a special cash dividend of $0.13 per share on EVI’s common stock, an 8.3% increase over EVI’s special cash dividend declared in December 2017. The dividend was paid on January 8, 2019 to stockholders of record at the close of business on December 26, 2018.

New Credit Facility

As previously disclosed, on November 5, 2018, the Company entered into a new five-year, $100 million syndicated revolving credit facility with Bank of America and US Bank as joint lead arrangers, which at EVI’s option, can expand commitments in the revolver to $140 million in the aggregate. The Company believes that its cash on hand and capital available under the new credit facility provides the Company with the necessary resources to execute on its growth opportunities and initiatives.

Name Change

During December 2018, the Company’s Board of Directors approved changing the Company’s corporate name from “EnviroStar, Inc.” to “EVI Industries, Inc.” The name change, which was effected on December 21, 2018, signifies the Company’s focus on executing its buy-and-build growth strategy in the commercial, industrial, and vended laundry industry and across a group of industries that meet its strategic criteria.

Use of Non-GAAP Financial Information

In this press release, EVI discloses the non-GAAP financial measure of Adjusted EBITDA, which EVI defines as earnings before interest, taxes, depreciation, amortization, and amortization of share-based compensation. Adjusted EBITDA is determined by adding interest expense, income taxes, depreciation, amortization, and amortization of share-based compensation to net income as shown in the attached Condensed Consolidated Earnings before Interest, Taxes, Depreciation, Amortization, and Amortization of Share-based Compensation. EVI considers Adjusted EBITDA to be an important indicator of its operating performance. Adjusted EBITDA is also used by companies, lenders, investors and others because it excludes certain items that can vary widely across different industries or among companies within the same industry. For example, interest expense can be dependent on a company’s capital structure, debt levels and credit ratings, and the tax positions of companies can vary because of their differing abilities to take advantage of tax benefits and because of the tax policies of the jurisdictions in which they operate. Adjusted EBITDA should not be considered as an alternative to net income or any other measure of financial performance or liquidity, including cash flow, derived in accordance with GAAP, or to any other method of analyzing EVI’s results as reported under GAAP. In addition, EVI’s definition of Adjusted EBITDA may not be comparable to definitions of Adjusted EBITDA or other similarly titled measures used by other companies.

About EVI Industries

EVI Industries, Inc., through its wholly-owned subsidiaries, is a distributor that generates revenues by selling, leasing or renting, through its extensive sales organization, commercial, industrial and vended laundry, dry-cleaning, and material handling equipment, steam and hot water boilers, water reuse and filtration systems, and related replacement parts and accessories. Additionally, the Company designs, plans, and installs turn-key laundry, dry cleaning, boiler, and water filtration systems and provides maintenance services through its robust technical service organization.

The Company’s customers include retail, commercial, industrial, institutional, and government customers. Purchases and orders by customers range from parts, accessories and maintenance services, to single or multiple units of equipment, to large complex systems.

Safe Harbor Statement

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EVI, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, the risks related to EVI’s business, results (including revenues and operating expenses), financial condition, prospects, and growth strategy and plans, risks associated with EVI’s buy-and-build growth strategy, including that EVI may not be successful in identifying or consummating acquisitions or other strategic opportunities where or when expected, or at all, that acquisition and other strategic opportunities may not be available to EVI to the extent anticipated or at all, that the potential benefits of transactions completed or which may be consummated in the future may not be realized to the extent anticipated or at all, integration risks, risks related to indebtedness incurred in connection with transactions, dilution experienced by EVI’s stockholders as a result of shares issued in connection with transactions, risks related to the business, operations and prospects of acquired businesses, risks related to EVI’s and its acquired businesses’ relationships with principal suppliers and customers and the impact that the loss of any principal supplier or customer could have on EVI’s results and financial condition, risks relating to EVI’s ability to enter into and compete effectively in new industries, as well as risks and trends related to these industries and the costs and timing of EVI’s efforts with respect thereto, risks related to EVI’s ability to successfully build its existing operations, risks related to organic growth initiatives, risks related to EVI’s indebtedness, including increases in its debt position and the risk that funds available under EVI’s new credit facility, individually or together with cash on hand, may not be sufficient to support EVI’s operating, investment or other needs, risks relating to the availability, terms and deployment of debt and equity capital if needed for expansion or otherwise, risks related to competition for the products and services which EVI provides as well as for employees and for acquisition and other strategic opportunities, and other economic, competitive, governmental, technological and other risks and factors, including those discussed in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018. Many of these risks and factors are beyond EVI’s control. In addition, dividends are subject to declaration by EVI’s Board of Directors based on factors deemed relevant by it from time to time, may be restricted by the terms of EVI’s indebtedness, and may not be paid in the future, whether with the frequency or in the amounts previously paid or at all. Further, past performance of EVI and its acquired businesses and perceived trends may not be indicative of future results. EVI cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EVI does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



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EVI Industries, Inc.
Henry M. Nahmad (305) 754-8676

Michael Steiner (305) 754-8676

EVI Industries, Inc. Completes Acquisition of PAC Industries, Inc.

EVI Industries, Inc. (NYSE American: EVI) announced today that it completed its acquisition of PAC Industries, Inc. (“PAC”). Based in Harrisburg, Pennsylvania, PAC is a prominent distributor of commercial, industrial, and vended laundry products and a provider of related installation and maintenance services to the new and replacement markets of the laundry industry. The addition of PAC marks the beginning of EVI’s intended growth strategy in the northeast region, where the Company believes there is a significant growth opportunity for the products and services the Company provides.

EVI is a growing distributor of commercial laundry products and a provider of related installation and maintenance services. EVI’s goal is to build the largest distributor of commercial laundry products and the most robust service network in North America from which to best serve customers in all end-markets of the laundry industry.

EVI expects the addition of PAC to be accretive to its fiscal year ended June 30, 2019.

About EVI Industries

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.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EVI Industries, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the acquisition of PAC Industries may not be accretive to EVI Industries earnings or otherwise have a positive impact on EVI Industries operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of PAC Industries and EVI Industries’ plans with respect thereto and the risks related to EVI Industries operations, results, financial condition, financial resources, and growth strategy, including EVI Industries ability to find and complete other acquisition opportunities, and the impact of any such acquisitions on EVI Industries operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI Industries filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI Industries Annual Report on Form 10-K for the fiscal year ended June 30, 2018, filed with the SEC on September 13, 2018. Many of these risks and factors are beyond EVI Industries control. In addition, past performance and perceived trends may not be indicative of future results. EVI Industries cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EVI Industries does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



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EVI Industries, Inc.
Henry M. Nahmad (305) 754-8676
Michael Steiner (305) 754-8676

EVI Industries, Inc. to Acquire PAC Industries, Inc.


EVI Industries, Inc. (NYSE American:EVI) announced today that it entered into a definitive stock purchase agreement to acquire all of the outstanding shares of common stock of PAC Industries, Inc. (“PAC”) for $12.85 million, of which $6.4 million will be paid in cash, $6.25 million in EVI common stock, and $0.2 million in an assumed subordinated note. Based in Harrisburg, Pennsylvania, PAC is a prominent distributor of commercial, industrial, and vended laundry products and a provider of related installation and maintenance services to the new and replacement markets of the laundry industry. For the twelve-months ended December 31, 2018, PAC generated approximately $22.0 million in revenue from the sale of equipment, parts, supplies, and related installation and maintenance services.

As a member of the EVI family, PAC will gain immediate access to the resources necessary to pursue its planned growth opportunities. Additionally, consistent with EVI’s operating philosophy, PAC will operate as a subsidiary of EVI from its present locations, under its existing leadership, and conduct business as it has historically. Frank Costabile, President of PAC, commented, “On behalf of all of the employees and owners of PAC, we are thrilled to join the EVI family and are anxious to begin working towards accomplishing our collective long-term goals.”

Since January 1, 2018, EVI has completed seven acquisitions in the commercial laundry industry. The acquisition of PAC will be EVI’s first in the northeast region, where EVI expects to aggressively continue executing its buy and build growth strategy. Given EVI’s entrepreneurial culture, focus on long-term growth, and autonomous operating model, it continues to represent the industry’s most compelling opportunity for owners of longstanding, high-quality businesses in and around the commercial laundry industry.

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented, “We welcome all of the valued employees and owners of PAC Industries to the EVI family. Our goal remains to be the best performing partner to each of our valued suppliers, to offer a comprehensive suite of products and world-class services to our customers, and to maintain an entrepreneurial culture that attracts the most talented entrepreneurs and professionals.”

The transaction is expected to close upon the satisfaction of all customary closing conditions. EVI expects the addition of PAC to be accretive to its fiscal year ended June 30, 2019.

About EVI Industries

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.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward- looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EVI Industries, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the proposed acquisition of PAC may not be accretive to EVI Industries earnings or otherwise have a positive impact on EVI Industries operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of PAC and EVI Industries plans with respect thereto, the risk that the conditions to closing the proposed acquisition may not be satisfied and that the proposed acquisition may not otherwise be consummated when expected, in accordance with the contemplated terms, or at all, and the risks related to EVI Industries operations, results, financial condition, financial resources, and growth strategy, including EVI Industries ability to find and complete other acquisition opportunities, and the impact of any such acquisitions on EVI Industries operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI Industries filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI Industries Annual Report on Form 10-K for the fiscal year ended June 30, 2018, filed with the SEC on September 13, 2018. Many of these risks and factors are beyond EVI Industries control. In addition, past performance and perceived trends may not be indicative of future results. EVI Industries cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward- looking statement, which speaks only as of the date made. EVI Industries does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



View source version on businesswire.com: https://www.businesswire.com/news/home/20190122005517/en/

EVI Industries, Inc.
Henry M. Nahmad (305) 754-8676
Michael Steiner (305) 754-8676

https://ih.advfn.com/stock-market/AMEX/envirostar-inc-EVI/stock-news/79095188/evi-industries-inc-to-acquire-pac-industries-in

EnviroStar Boosts Special Cash Dividend 8.3% and Board Approves Name Change to EVI Industries, Inc.


EnviroStar, Inc. (NYSE American: EVI) announced today that its Board of Directors approved a special cash dividend of $0.13 per share on EnviroStar’s common stock, an 8.3% increase over EVI’s special cash dividend declared in December 2017. The dividend is payable on January 8, 2019 to stockholders of record at the close of business on December 26, 2018.

Additionally, EVI’s Board of Directors approved changing the Company’s corporate name to “EVI Industries, Inc.” The name change signifies the Company’s focus on executing its buy-and-build growth strategy in the commercial, industrial, and vended laundry industry and across a group of industries that meet its strategic criteria.

The Company expects to effect the name change on or about December 21, 2018. The name change will not impact the ticker symbol of the Company’s common stock, which will continue to trade on the NYSE American under the ticker symbol “EVI.” Under Delaware law, stockholder approval of the name change is not required.

About EnviroStar

EnviroStar, 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.

https://ih.advfn.com/stock-market/AMEX/envirostar-inc-EVI/stock-news/78864588/envirostar-boosts-special-cash-dividend-8-3-and-b

EnviroStar, Inc. Completes the Acquisition of Worldwide Laundry, Inc.



EnviroStar, Inc. (NYSE American:EVI) announced today that it completed the acquisition of Miami, Florida based Worldwide Laundry, Inc. using a combination of cash and EVI stock. Worldwide represents a valuable piece to EVI’s growth strategy in Florida. Additionally, with the support of EVI’s primary Florida business unit, Steiner Atlantic, the Company expects to aggressively grow Worldwide’s international market share representing key brands across the Caribbean and Latin America.

Worldwide is a distributor of vended and on-premise laundry products and a provider of installation and maintenance services to customers in southeast Florida and select countries in the Caribbean and Latin America.

https://ih.advfn.com/p.php?pid=nmona&article=78709296&symbol=EVI

EnviroStar, Inc. Completes the Acquisition of Skyline Equipment, Inc.

EnviroStar, Inc. (NYSE American:EVI) announced today that it completed the acquisition of Houston, Texas, based Skyline Equipment, Inc. using a combination of cash and EVI stock. The addition of Skyline to EVI’s other Houston, Texas, based business, Scott Equipment, Inc., strengthens EVI’s base and increases its market share in the on-premise laundry and vended laundry market in the central and southern regions of Texas.

Skyline is a distributor of on-premise and vended laundry products and a provider of installation and maintenance services to healthcare, hospitality, correctional, institutional, and vended laundry customers.

https://ih.advfn.com/p.php?pid=nmona&article=78698768&symbol=EVI

EnviroStar, Inc. Completes Merger with Lucken, Inc., the Parent Company of Washington Automated, Inc.

EnviroStar, Inc. (NYSE American: EVI) announced today that it completed its merger with Lucken, Inc., the parent company of Washington Automated, Inc. (“WAI”) on November 6, 2018.

WAI is a Washington-based distributor of commercial and vended laundry products and a provider of related installation and maintenance services to customers in the hospitality, healthcare, institutional, vended, and for-profit sectors. The addition of WAI builds on EVI’s leading market share position in the on-premise laundry and vended laundry segments in the western United States and expands the service capabilities of EVI’s existing western operations.

EVI expects that WAI will continue to operate as it has historically, under the leadership of Ryan Lucken, executing with the same people, using the same name, and with the support and resources of EVI and all of EVI’s existing and future business units. Ryan Lucken, President of Washington Automated, added: “All of us at Washington Automated are excited about joining a company with an entrepreneurial culture and a proven strategy for long-term growth and success.”

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “Ryan Lucken and his team built a successful business by building quality relationships with and delivering exceptional service to their customers. We welcome Washington Automated to the EVI family and look forward to building upon their success.”

About EnviroStar

EnviroStar, 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.

https://ih.advfn.com/p.php?pid=nmona&article=78634397&symbol=EVI

EnviroStar, Inc. Enters into New $100 Million Credit Facility
EnviroStar, Inc. (NYSE American:EVI) announced today that it entered into a new five-year, $100 million syndicated credit facility with Bank of America and US Bank as joint lead arrangers, and Fifth Third Bank. The new credit facility includes a $100 million revolving line of credit and an accordion feature, which at EVI’s option, can expand commitments in the revolver to $140 million in the aggregate. The new credit facility replaces the existing $27 million asset-based credit facility with Wells Fargo that was scheduled to mature in October 2021.

Henry M. Nahmad, EVI’s Chairman and CEO, commented, “This new credit facility significantly increases one component of our financial resources. Although EVI still upholds a debt conservative financial strategy, this new credit facility, with strong participating lenders, attractive rates, and flexible terms, gives us additional flexibility to fulfill the financial needs of our growing business. We appreciate the support and confidence of our new lenders and we look forward to working with them in the pursuit of growth through our buy and build strategy.”

About EnviroStar

EnviroStar, 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.

https://ih.advfn.com/p.php?pid=nmona&article=78612463&symbol=EVI

EnviroStar, Inc. (NYSE American: EVI) announced today that it executed a definitive purchase agreement to acquire substantially all the assets and certain liabilities of Houston, Texas based Skyline Equipment, Inc. using a combination of cash and EVI stock.

Skyline is a distributor of on-premise and vended laundry products and a provider of installation and maintenance services to healthcare, hospitality, correctional, institutional, and vended laundry customers in the central and southern regions of Texas. As part of EVI, Skyline will have the opportunity to collaborate with other EVI business units in the region in the pursuit of new growth opportunities. The addition of Skyline is consistent with EVI’s goal to build the largest commercial laundry distributor with a comprehensive product offering and a robust service department to best serve its customers.

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “We welcome the Skyline team to the EVI Family and we look forward to working together to strengthen our market share in the southcentral region.”

The transaction is expected to close upon the satisfaction of closing conditions. EVI expects the addition of Skyline to be accretive to its fiscal year ended June 30, 2019.

About EnviroStar

EnviroStar, 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.

EnviroStar, Inc. (NYSE American: EVI) announced today that it executed a definitive purchase agreement to acquire substantially all the assets and certain liabilities of Miami, Florida based Worldwide Laundry, Inc. using a combination of cash and EVI stock.

Worldwide is a distributor of vended and on-premise laundry products and a provider of installation and maintenance services to customers in southeast Florida and select countries in the Caribbean and Latin America. The proposed acquisition of Worldwide will increase the Company’s market share in southeast Florida and will provide access to key brands of vended and on-premise laundry products that expands the Company’s existing product offering.

This will be EVI’s second acquisition of a Florida-based business, which will further increase the Company’s leading market share position in Florida. With the added leadership, experience, and resources of EVI’s primary Florida business unit, Steiner Atlantic, the Company expects to pursue domestic and international growth opportunities in the sale, installation, and service of vended and on-premise laundry products. Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “We welcome the Worldwide team to the EVI Family and we look forward to working with them and our valued suppliers in the pursuit of growth in the years ahead.”

The transaction is expected to close upon the satisfaction of closing conditions. EVI expects the addition of Worldwide to be accretive to its fiscal year ended June 30, 2019.

About EnviroStar

EnviroStar, 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.

EnviroStar, Inc. (NYSE American: EVI) announced today that it executed a definitive merger agreement to acquire all of the outstanding shares of a prominent distributor of laundry products and a provider of installation and maintenance services to the new and replacement markets of the vended and commercial laundry industry based in the western United States (the “Business”), using a combination of cash and EVI stock.

The addition of the Business, which serves over 2,700 customers in varying end-market segments, is consistent with EVI’s growth strategy to build the industry’s largest distributor of industrial, commercial, and vended laundry products, supported by a robust service organization capable of delivering consistent and unparalleled world-class services to all of its customers. EVI expects that the Business will continue to operate as it has historically, under its existing leadership, using the same name, executing with the same people, and with the support and resources of EVI and all of its existing and future business units.

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented, “EVI is a growing group of successful entrepreneurs with a relentless passion and commitment to growth. Our operating philosophy preserves the entrepreneurial spirit of acquired businesses and creates a culture that encourages the pursuit of long-term growth opportunities. This acquisition adds more revenues, profits, and market share to our fast-growing business, but more importantly adds another successful entrepreneur and a team from which we expect significant growth in the future.”

The transaction is expected to close upon the satisfaction of customary closing conditions and EVI expects the addition of the Business to be accretive to its fiscal year ended June 30, 2019.

About EnviroStar

EnviroStar, 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.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward- looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EnviroStar, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the proposed merger may not be accretive to EnviroStar’s earnings or otherwise have a positive impact on EnviroStar’s operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of the proposed target and EnviroStar’s plans with respect thereto, the risk that the conditions to closing the proposed merger may not be satisfied and that the proposed merger may not otherwise be consummated when expected, in accordance with the contemplated terms, or at all, and the risks related to EnviroStar’s operations, results, financial condition, financial resources, and growth strategy, including EnviroStar’s ability to find and complete other merger or acquisition opportunities, and the impact of any such mergers or acquisitions on EnviroStar’s operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EnviroStar’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EnviroStar’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018 filed with the SEC on September 13, 2018. Many of these risks and factors are beyond EnviroStar’s control. In addition, past performance and perceived trends may not be indicative of future results. EnviroStar cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EnviroStar does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



View source version on businesswire.com: https://www.businesswire.com/news/home/20180919005361/en/

EnviroStar, Inc.
Henry M. Nahmad, 305-754-8676
or
Michael Steiner, 305-754-8676

EnviroStar, Inc. to Acquire Industrial Laundry Services, Inc.
EnviroStar, Inc. (NYSE American: EVI) announced today that it executed a definitive purchase agreement to acquire substantially all the assets and assume certain liabilities of Orlando, Florida based Industrial Laundry Services, Inc. (ILS) using a combination of cash and EVI stock.

Industrial Laundry Services is a premier provider of commercial laundry installation and maintenance services to customers in the hospitality, healthcare, institutional, and for-profit sectors in central Florida. The addition of ILS is consistent with EVI’s growth strategy to build the industry’s largest distributor of commercial and vended laundry products, supported by the most advanced service organization that best serves laundry customers across the country.

ILS will continue to operate as it has historically, under the leadership of Troy and Erin Piper, using the same name, executing with the same people, and with the support and resources of Steiner Atlantic Corp., an EVI business unit based in Miami, FL. Troy Piper, President of Industrial Laundry Services said: “By joining EVI, we will have the opportunity to collaborate with Steiner Atlantic and other EVI business units in the pursuit of opportunities to grow and enhance our service operations across the state of Florida and beyond.”

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “Our growing service operations provide us the opportunity to generate new revenues and profits from the sale and or lease of equipment, the delivery and installation of replacement parts, and the execution of long-term comprehensive service agreements. We welcome Troy and Erin Piper to the EVI Family and look forward to fulfilling our growth objectives.”

The transaction is expected to close upon the satisfaction of customary closing conditions. EVI expects the addition of Industrial Laundry Services to be accretive to its fiscal year ended June 30, 2019.

About EnviroStar

EnviroStar, Inc. is a distributor of commercial, industrial, and vended laundry products and industrial boilers, including related parts and supplies. Through its subsidiaries, EVI sells its products and provides installation and maintenance services to thousands of customers across the United States, the Caribbean, and Latin America. EVI seeks to grow its North American market share through the execution of its buy-and-build strategy. In that pursuit, EVI intends to focus on buying market-leading laundry and commercial cleaning products businesses, and building them through the implementation of a growth culture that focuses on adding new locations, offering a more expansive and complimentary product line, and delivering a vast array of technical services.

EnviroStar, Inc. (NYSE American: EVI) announced today that it executed a definitive purchase agreement to acquire substantially all the assets and certain liabilities of Houston, Texas based Scott Equipment, Inc. for $13.0 million, 50% of which will be paid in cash and 50% in EVI common stock. The addition of Scott Equipment to EVI’s existing Dallas operations is expected to result in over $50 million of revenues derived primarily in the State of Texas by 19 sales professionals, supported by 32 service professionals, and serving over 3,000 on premise laundry (OPL) and vended laundry customers.

Scott Equipment is one of Houston’s leading distributors of OPL and vended laundry products and providers of related installation and maintenance services, which since its inception has been under the continuous ownership and leadership of John and Scott Martin. Scott Martin, President of Scott Equipment, said, “Joining EVI will provide us opportunities to offer more products and services to our OPL and vended laundry customers and facilitate growth opportunities in the large commercial and institutional laundry segments across the State of Texas and Southern Louisiana. Ultimately, EVI represented the industry’s best solution for long-term growth of our business and new opportunities for our valued employees.”

Consistent with EVI’s operating philosophy, Scott Equipment will operate as a subsidiary of EVI from its present locations, under its existing leadership, with all its employees, and conduct business as it has historically. Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented, “John Martin, Scott Martin, and the Scott Equipment team built a successful laundry distribution and service business by creating deep personal relationships with their customers and delivering them high-quality laundry solutions time and again. We welcome Scott Martin and his distinguished team of employees to the EVI Family and we look forward to working with them and our valued suppliers in the pursuit of growth in the years ahead.”

The transaction is expected to close upon the satisfaction of closing conditions. EVI expects the addition of Scott Equipment to be accretive to its fiscal year ended June 30, 2019.

About EnviroStar

EnviroStar, Inc. is a distributor of commercial, industrial, and vended laundry products and industrial boilers, including related parts and supplies. Through its subsidiaries, EVI sells its products and provides installation and maintenance services to thousands of customers across the United States, the Caribbean, and Latin America. EVI seeks to grow its North American market share through the execution of its buy-and-build strategy. In that pursuit, EVI intends to focus on buying market-leading laundry and commercial cleaning products businesses, and building them through the implementation of a growth culture that focuses on adding new locations, offering a more expansive and complimentary product line, and delivering a vast array of technical services.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EnviroStar, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the proposed acquisition of Scott Equipment may not be accretive to EnviroStar’s earnings or otherwise have a positive impact on EnviroStar’s operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of Scott Equipment and EnviroStar’s plans with respect thereto, the risk that the conditions to closing the proposed acquisition may not be satisfied and that the proposed acquisition may not otherwise be consummated when expected, in accordance with the contemplated terms, or at all, and the risks related to EnviroStar’s operations, results, financial condition, financial resources, and growth strategy, including EnviroStar’s ability to find and complete other acquisition opportunities, and the impact of any such acquisitions on EnviroStar’s operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EnviroStar’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EnviroStar’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017 filed with the SEC on September 28, 2017. Many of these risks and factors are beyond EnviroStar’s control. In addition, past performance and perceived trends may not be indicative of future results. EnviroStar cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EnviroStar does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



View source version on businesswire.com: https://www.businesswire.com/news/home/20180621005610/en/

EnviroStar, Inc.
Henry M. Nahmad, 305-754-8676
or
Michael Steiner, 305-754-8676

EnviroStar Completes the Acquisitions of AAdvantage Laundry Systems and Sky-Rent

EnviroStar, Inc. (NYSE American: EVI) announced that it completed the acquisition of Zuf Acquisitions I LLC d/b/a/ AAdvantage Laundry Systems, a Dallas, Texas based distributor of commercial laundry products and a provider of installation and maintenance services, and Sky-Rent LP, a Dallas, Texas based provider of commercial laundry rental solutions (collectively “AAdvantage”).

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “AAdvantage represents EVI’s first investment in the southcentral region of the United States. This investment is consistent with our plan to build North America’s largest commercial laundry distributor delivering a comprehensive product offering, world-class installation and maintenance services, and advanced technologies that deliver on our pursuit of growth. We welcome all 51 members of the AAdvantage team and are excited to work together in the years ahead.”

About EnviroStar

EnviroStar, Inc. is a distributor of commercial, industrial, and vended laundry products and industrial boilers, including related parts and supplies. Through its subsidiaries, EVI sells its products and provides installation and maintenance services to thousands of customers across the United States, the Caribbean, and Latin America. EVI seeks to grow its North American market share through the execution of its buy-and-build strategy. In that pursuit, EVI intends to focus on buying market-leading laundry and commercial cleaning products businesses, and building them through the implementation of a growth culture that focuses on adding new locations, offering a more expansive and complimentary product line, and delivering a vast array of technical services.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EnviroStar, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the acquisitions of AAdvantage and Sky-Rent may not be accretive to EnviroStar’s earnings or otherwise have a positive impact on EnviroStar’s operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of each of AAdvantage and Sky-Rent and EnviroStar’s plans with respect thereto, and the risks related to EnviroStar’s operations, results, financial condition, financial resources, and growth strategy, including EnviroStar’s ability to find and complete other acquisition opportunities, and the impact of any such acquisitions on EnviroStar’s operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EnviroStar’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EnviroStar’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017 filed with the SEC on September 28, 2017. Many of these risks and factors are beyond EnviroStar’s control. In addition, past performance and perceived trends may not be indicative of future results. EnviroStar cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EnviroStar does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.



View source version on businesswire.com: http://www.businesswire.com/news/home/20180212005194/en/

EnviroStar, Inc.
Henry M. Nahmad, 305-754-8676
or
Michael Steiner, 305-754-8676

EnviroStar Declares Special Cash Dividend – a 20% Increase Over 2016

EnviroStar, Inc. (NYSE American: EVI) announced today that its Board of Directors approved a special cash dividend of $0.12 per share on EnviroStar’s common stock, a 20% increase over EVI’s 2016 special cash dividend. The dividend is payable on January 9, 2018 to stockholders of record at the close of business on December 26, 2017.

https://ih.advfn.com/p.php?pid=nmona&article=76279343&symbol=EVI

Carefully read the disclaimer on the Spruce Point Capital downgrade: they are short on the stock, with big gains to be made from the panic selling their tweet is creating! Just "tweet," and watch 'em run!

Spruce Capital throws a right uppercut on twitter - wonder how or if our fearless CEO Nahmad might respond?

$EVI is an ineffective financial roll-up whose stock is flying high on retail hype of recent deals and indiscriminate index buying

https://twitter.com/sprucepointcap/status/915225480659456001

In Sept. of last year trading at around $5 pps, EVI posted .06 eps for Q4 while maintaining a pristine Balance Sheet.

In Sept. of this year trading at around $30 pps, EVI posts .04 eps for Q4 while ransacking their Balance Sheet.

This one could get real ugly, ya think?

EnviroStar, Inc. to Acquire Tri-State Technical Services, Inc.



EnviroStar, Inc. (NYSE American: EVI) announced today that it has executed a definitive asset purchase agreement to acquire substantially all of the assets of Tri-State Technical Services, Inc., a leading distributor of commercial, industrial, and vended laundry products and a provider of installation and maintenance services to the new and replacement segments of the commercial, industrial, and vended laundry industry. The transaction is expected to close within the next 45 days, subject to customary due diligence and closing conditions. EVI expects the addition of Tri-State to be accretive to its current fiscal year ended June 30, 2018. The purchase price to be paid is $16,500,000, of which 50% will be paid in cash and 50% will be paid in EVI common stock.

Founded in 1995 by Matt Stephenson, the Georgia based distributor and service provider operates from four distribution facilities serving over 8,500 customers throughout Georgia, South Carolina, North Carolina, and southern Virginia, some of the fastest growing and most stable laundry markets in the nation. Tri-State has 66 employees, including 28 service personnel, and distributes a comprehensive line of laundry equipment and related parts and supplies, consisting of over 7,500 SKU’s that include Pellerin-Milnor, Chicago Dryer, Speed Queen, and Maytag branded products.

For over 22 years, Tri-State has operated under the continuous ownership and management of Matt Stephenson. Under his direction, Tri-State has increased its revenues, profitability, and market share, resulting in recognition as one of the leading distributors and service providers in the southeast. In addition to an experienced sales team with a record of consistent sales growth, Tri-State boasts a robust service organization that is the cornerstone of longstanding customer relationships leading to predictable revenues and profitability. For the twelve months ended June 30, 2017, Tri-State generated revenues of approximately $27 million, which were derived from the sale of equipment, parts, and supplies, the performance of installation and maintenance services, and from the rental of commercial and vended laundry equipment.

Consistent with EVI’s operating philosophy, Tri-State will operate as a subsidiary of EVI under its current name and from its present locations, and will continue to be led by Matt Stephenson and Tri-State’s existing employees. The addition of Tri-State provides EVI contiguous territory from Florida through the southern mid-Atlantic states, which will create new opportunities to deliver more products and technical services to EVI’s growing customer base in the region.

Matt Stephenson, President of Tri-State said: “On behalf of everyone at Tri-State, we are excited to be joining the growing group of outstanding commercial laundry distributors in the EVI family. I believe in the EVI vision and we are confident that with EVI, Tri-State will continue to expand and be a valuable contributor to EVI’s long-term growth objectives.”

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “EVI is a growing group of accomplished entrepreneurs with an unrelenting passion and commitment for growth. Our operating philosophy is a natural fit for these entrepreneurs who also seek to continue building their company as part of a broad family of businesses with the common goal of creating a North American enterprise. Matt Stephenson exemplifies the entrepreneurial vision and drive we pursue. Consequently, we are thrilled to welcome Matt and the Tri-State team to the EVI family and we look forward to their valuable contributions.”

About EnviroStar

EnviroStar, Inc. is a distributor of commercial, industrial, and vended laundry products and industrial boilers, including related parts and supplies. Through its subsidiaries, EVI sells its products and provides installation and maintenance services to thousands of customers across the United States, the Caribbean, and Latin America.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EnviroStar, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the proposed acquisition of Tri-State may not be accretive to EnviroStar’s earnings or otherwise have a positive impact on EnviroStar’s operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of Tri-State and EnviroStar’s plans with respect thereto, the risk that the conditions to closing the proposed acquisition may not be satisfied and that the proposed acquisition may not otherwise be consummated when expected, in accordance with the contemplated terms, or at all, and the risks related to EnviroStar’s operations, results, financial condition, financial resources, and growth strategy, including EnviroStar’s ability to find and complete other acquisition opportunities, and the impact of any such acquisitions on EnviroStar’s operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EnviroStar’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EnviroStar’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016 filed with the SEC on September 20, 2016. Many of these risks and factors are beyond EnviroStar’s control. In addition, past performance and perceived trends may not be indicative of future results. EnviroStar cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EnviroStar does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170911005521/en/

EnviroStar, Inc.
Henry M. Nahmad, 305-754-8676
or
Rob Lazar, 305-754-8676

EVI 24.00 - quick search on new boardmember Todd Oretsky shows his major involvement in anything was in a startup 'MGE Enterprises Corporation d/b/a My Gold Envelope' which merged into MFGD back in 2009.

Additionally, Daniel Brauser resigned as President but remains Chief Financial Officer of Money4Gold. Douglas Feirstein and Todd Oretsky, both of My Gold Envelope, have been appointed Chief Executive Officer and Chief Operating Officer of Money4Gold

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=37700256

MFGD after going thru multiple name changes, reverse-splits, and business directions (from gold buyer to buying used phones) now trading as ticker USEL - as notorious a dilutionscam as one can find.

So how does Todd Oretsky fit on the EVI board?

EVI - CEO Nahmad sure likes owning multiple LLC's when his only interest seems to be in EVI -

Companies for Henry Nahmad
Name Status Incorporated Key People Role
Envirostar, Inc Active 2015
7
Chairman
Symmetric Capital II LLC Active 2016
1
Manager
Hammer Times LLC Active 2017
1
Manager
Mo Bella Investments LLC Active 2015
1
Manager
Symmetric Capital LLC Active 2015
1
Manager
Symmetric, Inc. Inactive 2004
1
President

https://www.corporationwiki.com/Florida/Miami/henry-m-nahmad-P2463343.aspx

EVI 27.00 - Using rough numbers and applying only a Price/Sales metric it looks like prior to both acquisitions EVI was previously trading at approx. Price/Sales ratio of 1. Each of the 2 recent acquisitions was purchased at approx. Price/Sales ratio of .3 and now the company trades at approx. Price/Sales ratio of 3.

The math does not add up!

Any thoughts on evi plunging?

Awesome news. http://ih.advfn.com/p.php?pid=nmona&article=75076312&symbol=EVI

EnviroStar, Inc. Completes the Acquisition of Martin-Ray Laundry Systems, Inc.
Date : 06/20/2017 @ 12:32PM
Source : Business Wire
Stock : Envirostar, Inc. (EVI)
Quote : 28.5 2.8 (10.89%) @ 1:23PM

EnviroStar, Inc. Completes the Acquisition of Martin-Ray Laundry Systems, Inc.
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EnviroStar, Inc. (NYSE MKT:EVI) announced today that it completed the previously announced acquisition of Martin-Ray Laundry Systems, Inc. The transaction is expected to be accretive to EVI’s earnings for its fiscal year ending June 30, 2018.

Founded in 1988 and based in Denver, Colorado, Martin-Ray is a distributor of commercial, industrial, and vended laundry products and provider of laundry installation and routine maintenance services. Consistent with EVI’s operating philosophy, Martin-Ray will operate as a subsidiary of EVI led by its existing management team, under its present name, and from its existing locations.

Henry M. Nahmad, EVI’s Chairman and CEO added: “We are pleased to have successfully completed the acquisition of Martin-Ray. We believe that our unique entrepreneurial culture and focus on growth, combined with our access to financial resources, will lead to additional opportunities to build our business and network beyond its current scope.”

About EnviroStar

EnviroStar, Inc. is a distributor of commercial laundry equipment, industrial boilers, and related parts, supplies, and technical services. Through its subsidiaries, EVI sells its products to over 7,500 customers across the United States, the Caribbean, and Latin America, including providing related technical services through its vast network of service technicians.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EnviroStar, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the acquisition of Martin-Ray may not be accretive to EnviroStar’s earnings or otherwise have a positive impact on EnviroStar’s operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations and prospects of Martin-Ray and EnviroStar’s plans with respect thereto, and the risks related to EnviroStar’s operations, results, financial condition, financial resources, and growth strategy, including EnviroStar’s ability to find and complete other acquisition opportunities, and the impact of any such acquisitions on EnviroStar’s operations, results and financial condition. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EnviroStar’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EnviroStar’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016 filed with the SEC on September 20, 2016. Many of these risks and factors are beyond EnviroStar’s control. In addition, past performance and perceived trends may not be indicative of future results. EnviroStar cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EnviroStar does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170620006264/en/

EnviroStar, Inc.
Henry M. Nahmad, 305-754-8676
or
Rob Lazar, 305-754-8676

EVI bullish 21.55









normal chart




log chart

EVI bullish 13.90

bull flag



















normal chart


log chart

EnviroStar Announces the Acquisition of Western State Design

http://ir.envirostarinc.com/press-releases/detail/33/envirostar-announces-the-acquisition-of-western-state-design

Founded in 1974 and based in Hayward, California, Western State Design distributes a comprehensive line of commercial and industrial laundry equipment and related parts for new laundry facilities and to the replacement laundry market. Western State Design distributes certain commercial laundry brands on an exclusive basis within the states of California, Oregon, Washington, Alaska, and parts of Nevada, Arizona and Idaho. Western State Design serves over 6,000 customers in the healthcare, hospitality, cruise line, correctional, government, and commercial and coin-operated laundry industries. Under the joint direction of Dennis Mack and Tom Marks, Western State Design has increased its revenues, profitability, and market share, resulting in recognition as one of the leading distributors and service providers in the industry. For the twelve months ended December 31, 2015, Western State Design generated approximately $60.2 million in revenue.

Hmmm...LookingToGetBack...oldmanbadman rdncoic

Looking to get back in this stock but want a better SP (Lower) as an entry. Always liked EVI but took my profit. Now I am looking at it again...........:) :) :)

I'm in on this. Chart looks nice.

And I think main reason share price has dropped because CEO gifted 500k shares to wife who ended up selling them all. Eitherway chart looks good fundys look better..

Anyone one this board? Eps is growing nicely quarter over quarter ....low float profitable company ..took a starter over past week or so.

I believe the sell off is over. Should bounce off the 50 day. Took another position for the next ride up.

Today should be a great day for us Badman! Chart is primed for a monster run! Cheers!

All the Steiner's deserve this.

Ahhh, I get it. Last year when they announced the dividend payable to shareholders on record previously, the SP tanked. This time they are going to do it more wisely and allow the SP to increase and then only adjust back to the previously higher level. We'll see if their plan works.

Nice little paycheck for Mr. Steiner eh? With this pre notice for Dividend, seems like these guys really want their SP to go up quickly. Hopefully it will sustain. Today should be an interesting day for EVI. If Steiner bought another million shares things could get really interesting.

Hmmm...SoStrange...oldmanbadman rdncoic

Isn't that so strange. You can still buy in after the announcement to get a .40 Cent US dividend. SP is still low. Closing Price still gives you a .13% dividend. At time of announcement, it was 21.5% Of course that was a decrease from last year's dividend. :) :) :) :) :)

Nov 08, 2013 – DIVIDEND STOCK ANNOUNCEMENT: Envirostar Inc (AMEX: EVI) today declared a dividend of $0.4000 per share

For Immediate Release

Boston, MA., Nov 08, 2013 – Envirostar Inc (AMEX: EVI) today declared a dividend of $0.4000 per share payable on December 12, 2013 to shareholders of record as of November 27, 2013. Dividend amount recorded is decrease of $0.2 from last dividend Paid

Envirostar Inc (AMEX: EVI) has paid dividends since 2003 and has a current dividend yield of 21.5%. (AT THE TIME OF ANNOUNCEMENT)

Envirostar Inc’s current dividend information as per the date of this press release is:
Dividend Declaration Date: Nov-08-2013
Dividend Ex Date: Nov-25-2013
Dividend Record Date: Nov-27-2013
Dividend Payment Date: Dec-12-2013
Dividend Amount: 0.4

Boom! Good call on our parts!

MIAMI--(BUSINESS WIRE)--November 08, 2013-- EnviroStar, Inc. (NYSE MKT:EVI) today reported improved operating results for the first three months of fiscal 2014.

For the three month period ended September 30, 2013, revenues increased by 30.4% to $8,493,230 from $6,513,114 for the same period of last year. Net earnings increased by 180.4% to $425,771 or $.06 per share during the first quarter of fiscal 2014 compared to $151,839 or $.02 per share during the first quarter of fiscal 2013.

The Company also announced that its Board of Directors has declared a $.40 per share special dividend, payable on December 12, 2013 to shareholders of record on November 27, 2013.

Venerando J. Indelicato, Chief Financial Officer of EnviroStar, Inc., stated: "As previously reported, we started fiscal 2014 with a solid backlog for delivery during our current fiscal year. The results of the first quarter are in line with our expectations for a successful year. In addition, as a result of our high levels of cash, the Board of Directors has declared a special dividend in order to return value to our shareholders."

EnviroStar, Inc., through its subsidiaries, is one of the nation's leading distributors of commercial and industrial laundry and dry cleaning equipment and steam boilers.

This press release contains certain information that is subject to a number of known and unknown risks and uncertainties that may cause actual results and trends to differ materially from those expressed or implied by the forward-looking statements. Information concerning these factors are discussed in Company reports filed with the Securities and Exchange Commission.



EnviroStar, Inc.

Three months ended September 30,
2013 2012
-------------------- --------------
(Unaudited) (Unaudited)
Revenues $ 8,493,230 $ 6,513,114

Earnings before income taxes 684,406 247,023
Provision for income taxes 258,635 95,184
---- -------------- -------------

Net earnings $ 425,771 $ 151,839

Basic and diluted earnings per share $ 0.06 $ 0.02


Weighted average shares outstanding:
Basic and diluted 7,033,732 7,033,732



CONTACT: EnviroStar, Inc. Michael Steiner, 305-754-4551

Venerando Indelicato, 813-814-0722


SOURCE: EnviroStar, Inc.
Copyright Business Wire 2013
Order free Annual Report for EnviroStar, Inc.

Visit http://djnweurope.ar.wilink.com/?ticker=US29414M1009 or call +44 (0)208 391 6028

1:30 PM ET EnviroStar Declares Special Dividend of 40c >EVI
Dow Jones

I hope they don't wait til after hours.

Hmmm...SoTodayWeWillKnow...oldmanbadman rdncoic

V Shall C. The insideres has scooped up their Shares and now the Lemmings will get theirs after good News. Of course good News is needed. They know already what is going on, just us Little guys never know until after the fact. But I got my Shares already. oldmanbadman rdncoic

In honor of their banner revenue year, I do believe a special dividend is definitely worthy! Hopefully it'll move today in anticipation of a continued growth in Revs.

Hmmm...LookingFor...oldmanbadman rdncoic

Looking for a good News post on Friday. Maybe, Maybe not. I think a good Revenue Report or a new Special Dividend. Or both. Good luck on your investing. EVI seems to be a really underrated stock. oldmanbadman rdncoic

CEO stated backlog will carry over into the next qtr which reports on the 9th. Should make for a positive boost in SP.

NYSE-MKT: EVI (FULL REPORT)



Market Cap$22.51M

Shares Outstanding7.03M

Float4.15M

Avg. (3 Mo) Volume17,634

52 Week Range1.30 – 3.50

Website: http://www.drycleanusa.com



The company also offers boiler products consisting of 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, as well as in the healthcare industry, food and beverage industry, and other industrial markets for sterilization and product sealing. In addition, it owns the worldwide rights to the name DRYCLEAN USA, which the company franchises and licenses to retail drycleaners. EnviroStar, Inc. sells its commercial and industrial laundry equipment and boilers to laundry plants, hotels, motels, cruise lines, hospitals, hospital combines, nursing homes, government institutions, distributors, and specialized users; and dry cleaning equipment to independent and franchise dry cleaning stores, chains,

Our Company, through its main subsidiary Steiner-Atlantic Corp., distributes industrial boilers, commercial laundry and dry-cleaning equipment, parts and technical service. Our products include our proprietary lines of machines under the Aero-Tech, Multi-Jet and Green Jet brand names as well as industry leading brands such as MILNOR, CHICAGO, ADC, CLEAVER-BROOKS, FULTON, IPSO, CISSELL, UNION, REMA, INGERSOLL-RAND, UNIPRESS, FORENTA, and WHITE.

The Company recently changed its name to EnviroStar Inc., from its previous name of Dryclean USA, Inc. to emphasize the Company’s efforts toward sales of environmentally safe and efficient equipment into various commercial and industrial markets.

The Company seeks to establish customer satisfaction by offering:

Design and layout assistance with our in-house architectural design services

Competitive pricing.

Comprehensive equipment, parts and accessories inventory with same day or overnight availability.

Full-service delivery, rigging, startup, training and preventive maintenance programs performed by factory-trained technicians.

Full-service staff with toll-free support line to resolve customer service and technical issues.

The Company’s customer base consists of approximately 1700 customers in the United States, the Caribbean and Latin America. Our products are installed in leading hotels, motels, hospitals, schools, cruise lines, commercial laundry and dry-cleaning plants and many other installations. Our factory-trained salesmen are ever ready to assist our customers in engineering and designing their projects

In addition, the Company, through its subsidiary Dryclean USA License Corp., franchises dry-cleaning and laundry establishments in the United States and Latin American markets and one of the largest and most respected license and franchise operations in the industry.



Envirostar, Inc. companies:



Steiner Atlantic is a leader in the boiler, laundry and dry-cleaning industries. Our mission is to provide reliable equipment, quality technical support, and fast-delivery of parts in order for our customers to succeed.

We serve companies both big and small, domestically and internationally. Existing owners of and entrepreneurs entering, dry-cleaning and coin-operated laundry businesses are our customers. Executives and plant engineers of major resorts, hotels, cruise lines, and commercial laundries also come to us for sales and service. Regardless of the demands of our customers, we are committed to satisfying them.

DRYCLEAN USA’s mission is to provide quality dry-cleaning and laundering services at its over 400 store locations throughout the United States, Caribbean, and Latin America. That’s why our motto is “Clean Around the World”.

DRYCLEAN USA’s Franchising Program offers entrepreneurs a business opportunity with large profit potential.



EVI has a solid business model and we will keep these shares on our watch list.