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EVI Industries Completes Merger with CLE

Acquisition eighth investment in Southeast region for commercial laundry, drycleaning equipment distributor

MIAMI — Commercial laundry and drycleaning equipment distributor EVI Industries Inc. reports it completed its merger with Raleigh, North Carolina-based Consolidated Laundry Equipment and Columbia, South Carolina-based Central Equipment Company (collectively “CLE”), both distributors of commercial laundry products and providers of related technical installation and maintenance services, on Feb. 7.

Terms of the deal were not disclosed.

“CLE is a unique acquisition for us in that it serves customers in a geography where EVI already has four businesses operating with wide-ranging capabilities and with distinct product representations,” says Henry M. Nahmad, EVI’s chairman and CEO.

“CLE has a significant customer base that is loyal to the knowledge, experience, and capabilities of its sales and service organization, which is highly attractive to us, and it has a robust operation that when synchronized with our existing businesses in the geography will result in the largest and most dynamic commercial laundry operation in the southeast region of the United States.”

The acquisition of CLE represents EVI’s eighth investment in the Southeast region and its 17th acquisition since the inception of its long-term focused buy-and-build growth strategy.

“We believe that our track record has earned us the reputation of a knowledgeable, efficient, and trustworthy acquirer with an entrepreneurial culture and long-term growth opportunity that is attractive to business owners in and around the commercial laundry industry,” Nahmad adds.

“We welcome Billy Kincaid and all 42 members of the CLE team and are excited to work together in the pursuit of our goals in years ahead.”

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