newsfilter
← Latest News
Business Wire·

EVI Industries Expands Florida Presence with Acquisition of Commercial Laundry Equipment Company

EVI
  • EVI Industries closed a definitive agreement to acquire West Palm Beach-based Third Phase Venture, Inc. d/b/a Commercial Laundry Equipment Company (CLZ).
  • CLZ is a second-generation, family-owned distributor of commercial laundry products offering installation & maintenance services.
  • The acquisition adds CLZ as the 33rd commercial laundry business & 34th business overall to join the EVI family.
  • CLZ is led by Zachary & Stephanie Staley & Holly Ortman, operates with 18 employees, & has a strong local reputation.
  • EVI Chairman & CEO Henry Nahmad stated CLZ aligns with their criteria for well-managed companies with deep customer relationships.
  • CLZ President Zachary Staley views EVI as an ideal partner to accelerate growth while preserving core business philosophies.
  • This transaction reinforces EVI's buy-and-build strategy in the commercial laundry industry.
  • CLZ will retain its existing name, location, & leadership team under EVI's operating model.
  • Financial terms of the transaction were not disclosed.
  • EVI's buy-and-build philosophy includes retaining leadership teams, fostering innovation, & creating an ownership culture through long-term equity.
  • EVI operates in commercial laundry distribution & consumer garment care services through a long-term buy-and-build strategy.
  • The press release includes forward-looking statements regarding integration risks & potential impacts on earnings.