MIAMI–(BUSINESS WIRE)– EVI Industries, Inc. (NYSE American: “EVI”) announced that it entered into and closed a definitive agreement to acquire Akron, Ohio-based Belenky, Inc. (“Belenky”), a distributor of commercial laundry products and provider of related installation and maintenance services. Belenky represents the thirty-second (32nd) commercial laundry business to join the EVI family.
Belenky is a fifth-generation, family-owned laundry distributor and service provider led by the Minster family, currently under the leadership of Rob Minster, Emily Prioletti, and Mike Prioletti. Supported by its seventeen (17) dedicated employees, Belenky has established deep customer relationships and earned a reputation for dependable service. The addition of Belenky expands EVI’s presence in Ohio and adds an experienced team with longstanding customer relationships. Through EVI’s continued deployment of technologies and operating systems designed to improve efficiency, speed, and scalability across its enterprise, Belenky is expected to benefit from enhanced operational capabilities that promote growth and support an even stronger customer experience.
Henry Nahmad, EVI’s Chairman and Chief Executive Officer, said, “Belenky represents exactly the type of business we seek to partner with — a well-managed company with deep customer relationships, a strong local reputation, and an experienced team positioned for growth. We’re proud to welcome the Minster family and the entire Belenky organization and look forward to supporting their continued success.”
Robert Minster, Belenky Chairman, said, “Belenky has a long history as a family-owned business focused on customer relationships and excellent service. We believe that EVI will be the perfect partner for our future, allowing us to maintain our core business philosophies while adding significant resources and support that will enhance our customer experience.”
Consistent with EVI’s operating model, Belenky will continue to operate under its existing name, from its current facility, with its team in place. Consideration for the acquisition was paid in cash.
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,
Collaborate on new and transformative ideas to foster a spirit of growth and innovation,
Pursue aggressive growth plans and help the leadership team achieve their goals, and
Create an ownership culture by motivating the team with long-term equity.
EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor and a provider of advisory and technical services. Through its vast sales organization, the Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Company’s robust network of commercial laundry technicians, the Company provides its customers with installation, maintenance, and repair services. The Company’s customers include retail, commercial, industrial, institutional, and government customers. Purchases made by customers range from parts and accessories to single or multiple units of equipment, to large complex systems as well as the purchase of the Company’s installation, maintenance, and repair services.
