M&A - EVI INDUSTRIES, INC.

Form Type: 10-Q

Filing Date: 2025-05-12

Corporate Action: Acquisition

Type: New

Accession Number: 000117494725000744

Filing Summary: EVI Industries, Inc. filed its quarterly report for the period ending March 31, 2025, showcasing significant financial growth. The company reported revenues of $279.9 million, up from $263.4 million in the same period the previous year. Their gross profits also saw an increase, rising to $84.4 million. With net income at $5.4 million, a substantial rise from $3.6 million the year prior, EVI's earnings per share improved to $0.36 from $0.25. The company continues to expand its operations through a series of acquisitions, including Laundry Pro of Florida, which was acquired on July 1, 2024, for $5.9 million, and O'Dell Equipment & Supply, which was acquired for $4.6 million. Additionally, EVI finalized the acquisition of Haiges Machinery, Inc. for $2.0 million on February 1, 2025. The acquisitions are expected to enhance EVI's scale and operational capabilities in the commercial laundry industry. The company also maintains a strong balance sheet with total assets reported at $251.8 million and total liabilities at $111.6 million, yielding a total equity of $140.2 million. The report mentions ongoing valuation assessments for certain assets acquired as the company progresses with its 'buy-and-build' growth strategy.

Form Type: 8-K

Filing Date: 2025-04-03

Corporate Action: Acquisition

Type: New

Accession Number: 000117494725000506

Filing Summary: On April 2, 2025, EVI Industries, Inc. announced the closing of a Stock Purchase Agreement with Girbau North America Inc. (GNA) and its parent company Girbau S.A. Following the agreement, EVI Industries has acquired all of the issued and outstanding shares of GNA common stock. This significant acquisition is noted as part of EVI's strategic growth initiatives. The press release detailing this acquisition is attached as Exhibit 99.1.

Form Type: 8-K

Filing Date: 2025-03-06

Corporate Action: Acquisition

Type: New

Accession Number: 000117494725000300

Filing Summary: On February 28, 2025, EVI Industries, Inc. entered into a Stock Purchase Agreement (the 'Purchase Agreement') with Girbau North America Inc. (GNA) and Girbau S.A. The Company will acquire all issued shares of GNA common stock for approximately $43,000,000. A portion of the purchase price, $4,355,000, will be held in escrow for at least 15 months after closing. The Purchase Agreement includes typical representations, warranties, and covenants for a transaction of this nature. Closing is expected within 30 days, contingent upon meeting certain conditions. GNA will operate as a wholly-owned subsidiary post-acquisition.

Form Type: 10-Q

Filing Date: 2025-02-10

Corporate Action: Acquisition

Type: Update

Accession Number: 000117494725000136

Filing Summary: EVI Industries, Inc. filed its quarterly report for the period ended December 31, 2024. The company reported revenues of $186,336,000 compared to $179,438,000 for the same period in 2023, reflecting growth in sales. Operating income was $7,379,000, showing an improvement from $5,568,000 a year earlier. Net income increased to $4,360,000 from $2,623,000 in the prior year. The earnings per share were reported at $0.29, both basic and diluted. The financial statements show an increase in total assets to $248,802,000 from $230,659,000 as of June 30, 2024, primarily due to acquisitions. The company highlighted its acquisition of Laundry Pro of Florida, Inc. on July 1, 2024, for $5.9 million in cash, and O'Dell Equipment & Supply, Inc. on November 1, 2024, for $4.6 million in cash, both aimed at expanding its operations in the commercial laundry equipment and services sector. Additionally, EVI announced a new acquisition of Haiges Machinery, Inc. for $2.0 million in cash, which will contribute further to its growth strategy. The document includes discussions on financial condition, results of operations, market risk disclosures, legal proceedings, and risk factors.