Row of industrial laundry machines in laundromat.

EVI Industries, Inc. announced that it executed a definitive agreement to acquire K&B Laundry Service (“K&B”), a North Carolina based provider of installation and maintenance services to the industrial and on-premise laundry segments of the commercial laundry industry. With K&B, EVI adds 15 highly trained and specialized commercial laundry technicians and support staff that will enhance EVI’s capabilities to its growing customer base across the southeast region of the United States. The transaction is expected to close in the next 30 days or upon the satisfaction of all customary closing conditions.

The addition of K&B is consistent with EVI’s long-term growth strategy to build the largest value added distributor of commercial laundry products with the most dynamic network of specialized technicians to support commercial laundry customers. Upon completion of the K&B acquisition, EVI will have acquired 21 commercial laundry businesses and continues to be the fastest growing and only publicly listed company devoted to the North American commercial laundry distribution and service industry.

Henry M. Nahmad, EVI’s chairman and chief executive officer, commented: “Our customers rely on the experience of our sales professionals to plan and design best in class laundry facilities. They also increasingly rely on the capabilities of our highly trained technicians to install and continuously maintain their laundry products. The K&B team strengthens our customer value proposition, we are pleased to welcome Mr. Norman “Bo” Tanner and the K&B team to the EVI Family, and look forward to working together in the pursuit of our long-term goals.”

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,

▪ Pursue aggressive growth plans and help the leadership team achieve their goals,

▪ Create an ownership culture by motivating the team with long-term equity, and

▪ Collaborate on new and transformative ideas to foster a spirit of growth and innovation.


Mr. Nahmad comments: “We believe that the thoughtful execution of our buy-and-build growth strategy has earned us a positive reputation in and around the commercial laundry industry, including among owners of quality businesses. We remain very active in the pursuit of additional investments in other great businesses and given our record, reputation, and appetite for significant growth, EVI is well-positioned to capitalize on a growing number of opportunities.”