EnviroStar Makes Two Acquisitions
(August, 2018) EnviroStar, Inc. (EVI), headquartered in Miami, Florida recently announced that it has executed a definitive purchase agreement to acquire substantially all of the assets and certain liabilities of Houston-based Scott Equipment, Inc. EVI also executed a definitive purchase agreement to acquire substantially all of the assets and to assume certain liabilities of Industrial Laundry Services, Inc., using a combination of cash and EVI stock.
The addition of Scott Equipment to EVI’s existing Dallas operations is expected to result in more than $50 million of revenues derived primarily in the state of Texas by 19 sales professionals, supported by 32 service professionals, and serving more than 3,000 on-premises laundry and vended laundry customers.
Scott Equipment is one of Houston’s leading distributors of OPL and vended laundry products and providers of related installation and maintenance services, under the continuous ownership of John and Scott Martin since the company’s inception.
Industrial Laundry Services, based in Orlando, Florida, is a provider of commercial laundry installation and maintenance services to the hospitality, healthcare, institutional and for-profit sectors within the central Florida market.
ILS will continue to operate under the leadership of Troy and Erin Piper, using the same name, executing with the same staff, and with the support and resources of Steiner-Atlantic Corp., which is an EVI business unit based in Miami.
The transaction is expected to close upon the satisfaction of customary closing conditions. EVI expects the addition of Industrial Laundry Services to be accretive to its fiscal year ended June 30, 2019.