EVI Industries Completes Acquisition of Girbau North America
Summary
Henry M. Nahmad, EVI’s Chairman and CEO, commented: “Across the thirty acquisitions we have made, we have honored our word to the families who have entrusted us with their longstanding businesses, ensuring their names, employees, and values are preserved. Through disciplined execution of its buy-and-build growth strategy and a thriving entrepreneurial culture, EVI has established itself as the leader in the highly fragmented North American commercial laundry distribution and services market. Since 2016, EVI has, among other things, completed thirty acquisitions, expanded into new geographies, retained and invested in additional sales and service personnel, broadened its OEM representations, and implemented advanced operating technologies. EVI believes that its ownership and leadership structure allow management to operate with the necessary independence to maintain its focus on long-term value creation, including through industry consolidation, organic growth, and technological modernization. Since 2016, EVI has delivered a compounded annual growth rate in revenue, net income, and adjusted EBITDA of 31%, 19%, and 28%, respectively, while maintaining a low-leverage balance sheet that has positioned the Company to execute on strategic transactions.