EVI Industries Completes Acquisition of Haiges Machinery
EVI Industries (NYSE: EVI) has completed its acquisition of Haiges Machinery, a Huntley, Illinois-based company. This marks EVI's 29th acquisition in the commercial laundry distribution and service industry and represents its first entry into the Midwest region of the United States.
The company's buy-and-build strategy encompasses several key components: identifying and partnering with successful businesses led by influential leaders, maintaining existing leadership teams while preserving company culture, fostering innovation through collaboration, supporting aggressive growth initiatives, and creating an ownership culture through long-term equity incentives.
EVI Industries (NYSE: EVI) ha completato l'acquisizione di Haiges Machinery, un'azienda con sede a Huntley, Illinois. Questo segna la 29ª acquisizione di EVI nel settore della distribuzione e del servizio di lavanderia commerciale e rappresenta il suo primo ingresso nella regione del Midwest degli Stati Uniti.
La strategia di buy-and-build dell'azienda comprende diversi componenti chiave: identificare e collaborare con aziende di successo guidate da leader influenti, mantenere i team di leadership esistenti preservando la cultura aziendale, promuovere l'innovazione attraverso la collaborazione, supportare iniziative di crescita aggressive e creare una cultura di ownership attraverso incentivi in capitale a lungo termine.
EVI Industries (NYSE: EVI) ha completado su adquisición de Haiges Machinery, una empresa con sede en Huntley, Illinois. Esto marca la 29ª adquisición de EVI en la industria de distribución y servicio de lavandería comercial y representa su primera entrada en la región del Medio Oeste de los Estados Unidos.
La estrategia de compra y construcción de la empresa abarca varios componentes clave: identificar y asociarse con negocios exitosos liderados por líderes influyentes, mantener los equipos de liderazgo existentes preservando la cultura de la empresa, fomentar la innovación a través de la colaboración, apoyar iniciativas de crecimiento agresivas y crear una cultura de propiedad mediante incentivos de capital a largo plazo.
EVI Industries (NYSE: EVI)는 일리노이주 헌틀리에 위치한 Haiges Machinery의 인수를 완료했습니다. 이는 EVI의 상업 세탁기 유통 및 서비스 산업에서의 29번째 인수이며, 미국 중서부 지역에 첫 진출을 의미합니다.
회사의 인수 및 빌딩 전략은 여러 주요 요소를 포함합니다: 영향력 있는 리더가 이끄는 성공적인 기업을 식별하고 파트너십을 맺으며, 기존 리더십 팀을 유지하고 기업 문화를 보존하며, 협력을 통해 혁신을 촉진하고, 공격적인 성장 이니셔티브를 지원하며, 장기 자본 인센티브를 통해 소유 문화를 구축하는 것입니다.
EVI Industries (NYSE: EVI) a achevé l'acquisition de Haiges Machinery, une entreprise basée à Huntley, dans l'Illinois. Cela marque la 29e acquisition d'EVI dans l'industrie de la distribution et des services de blanchisserie commerciale et représente sa première entrée dans la région des Midwest des États-Unis.
La stratégie d'achat et de croissance de l'entreprise comprend plusieurs éléments clés : identifier et s'associer à des entreprises prospères dirigées par des leaders influents, maintenir les équipes de direction existantes tout en préservant la culture d'entreprise, favoriser l'innovation par la collaboration, soutenir des initiatives de croissance agressives et créer une culture de propriété grâce à des incitations en actions à long terme.
EVI Industries (NYSE: EVI) hat die Übernahme von Haiges Machinery, einem Unternehmen mit Sitz in Huntley, Illinois, abgeschlossen. Dies ist die 29. Übernahme von EVI in der Branche für gewerbliche Wäscheverteilung und -dienstleistungen und stellt den ersten Eintritt in die Mittelwest-Region der Vereinigten Staaten dar.
Die Buy-and-Build-Strategie des Unternehmens umfasst mehrere zentrale Komponenten: Identifizierung und Partnerschaft mit erfolgreichen Unternehmen, die von einflussreichen Führungspersönlichkeiten geleitet werden, Beibehaltung bestehender Führungsteams bei gleichzeitiger Sicherung der Unternehmenskultur, Förderung von Innovation durch Zusammenarbeit, Unterstützung aggressiver Wachstumsinitiativen und Schaffung einer Unternehmenskultur durch langfristige Eigenkapitalanreize.
- Strategic expansion into Midwest market through first regional acquisition
- Addition of 29th acquisition strengthening market presence in commercial laundry sector
- Retention of existing leadership team ensuring operational continuity
- None.
Insights
The acquisition of Haiges Machinery represents a strategic milestone for EVI Industries, particularly as it establishes the company's first foothold in the lucrative Midwest market. This expansion is especially significant given the region's substantial industrial and commercial base, which presents considerable growth opportunities in the commercial laundry sector.
EVI's methodical approach to acquisitions, now at their 29th transaction, demonstrates a well-refined integration strategy that has proven successful in maintaining operational continuity while driving growth. The company's emphasis on retaining leadership teams and preserving company culture has been a important factor in successful post-acquisition integration, typically resulting in reduced integration risks and maintained customer relationships.
The Midwest expansion through Haiges Machinery is particularly strategic for several reasons:
- Geographic diversification reduces regional market risks
- Access to new customer bases in a historically stable market
- Potential for operational synergies through shared resources and best practices
- Platform for further bolt-on acquisitions in the Midwest region
EVI's buy-and-build philosophy, centered on long-term equity incentives and leadership retention, has proven effective in creating value through market consolidation while maintaining operational excellence. This approach typically results in stronger market positions and improved competitive advantages through economies of scale and expanded service capabilities.
EVI’s Buy and Build Philosophy
Key components of EVI’s buy-and-build strategy include:
- Identify and partner with great businesses led by influential leaders,
- Retain the leadership team, honor the company culture and empower them,
- Collaborate on new and transformative ideas to foster a spirit of growth and innovation,
- Pursue aggressive growth plans and help the leadership team achieve their goals, and
- Create an ownership culture by motivating the team with long-term equity.
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 its vast sales organization, the Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Company’s robust network of commercial laundry technicians, the Company provides its customers with installation, maintenance, and repair services. The Company’s customers include 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 the purchase of the Company’s installation, maintenance, and repair 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 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, that the acquisition of Haiges Machinery may not be accretive to EVI’s earnings or otherwise have a positive impact on EVI’s operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations, and prospects of Haiges Machinery and EVI’s plans with respect thereto. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI’s filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the SEC on September 12, 2024, as amended by its Annual Reports on Form 10-K/A for the fiscal year ended June 30, 2024, filed with the SEC on September 13, 2024 and October 25, 2024. Many of these risks and factors are beyond EVI’s control. In addition, past performance 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.
4500 Biscayne Blvd., Suite 340
info@evi-ind.com
(305) 402-9300
Source: EVI Industries, Inc.
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