MIAMI, Fla – Commercial laundry and drycleaning equipment distributor EnviroStar, Inc. (EVI), announced that it has executed definitive asset purchase agreements to acquire substantially all the assets and certain liabilities of Zuf Acquisitions I LLC d/b/a/ AAdvantage Laundry Systems and Sky-Rent LP (collectively “AAdvantage”), for a combined $17 million.
Dallas based AAdvantage is a distributor of laundry products and a provider of installation and maintenance services to the new and replacement markets of the commercial and vended laundry industry.
Consistent with EVI’s operating philosophy, AAdvantage will operate as a subsidiary of EVI from its present locations, under its existing leadership, with all its employees, and conduct business as it has historically.
For over 20 years, AAdvantage has been under the ownership and leadership of CEO Mike Zuffinetti, with the addition of Ryan Smith in 2010. With the dedication of AAdvantage’s 49 employees, AAdvantage is a strong base from which EVI expects to generate future growth in the southwest and beyond.
For the 12 months ended June 30, 2017, AAdvantage generated over $27 million in revenues from the sale of equipment, parts, supplies, and related installation and maintenance services. A recent EVI news release stated: Revenues and profits include and are anchored by an extensive, predictable, and growing portfolio of laundry equipment rental and lease agreements, a valuable expertise that presents a significant growth opportunity for each EVI business.
“AAdvantage is an entrepreneurial organization with an unrelenting pursuit for growth and success. EVI’s entrepreneurial culture, long-term vision, and operating philosophy presented a compelling proposition we believe will accelerate our growth and help us all achieve new levels of success,” says Zuffinetti.