EVI Industries, Inc. (EVI), a leading value-added distributor and provider of technical installation and maintenance services in the commercial laundry sector, announced on Tuesday the acquisition of Haiges Machinery, Inc. This company is a notable distributor of commercial laundry products located in Huntley, IL, and also offers installation and maintenance services.
This acquisition signifies EVI's inaugural expansion into the Midwest region, bringing onboard an experienced team known for strong customer relationships. Under the operational framework of EVI, Haiges Machinery will maintain its current name, facility, and all 25 employees, while continuing to collaborate with its established supplier base.
With this acquisition, EVI has now acquired a total of 29 commercial laundry businesses, strengthening its status as the most rapidly expanding and only publicly traded entity within the North American commercial laundry distribution and services landscape.
The transaction, structured as a cash deal, is expected to close once typical closing conditions are satisfied. EVI projects that the operation of Haiges Machinery will contribute positively to its financial performance for the fiscal year ending on June 30, 2025.
As of now, EVI shares are trading at $17.01 on the New York Stock Exchange.
