EVI Industries Completes Acquisition of Belenky
MWN-AI** Summary
EVI Industries, Inc. (NYSE American: “EVI”) has successfully completed the acquisition of Belenky, Inc., a well-established distributor and service provider of commercial laundry products based in Akron, Ohio. This acquisition marks the 32nd addition to EVI's expanding portfolio of commercial laundry businesses. Belenky, which has a strong family-owned legacy under the Minster family and is currently operated by Rob Minster, Emily Prioletti, and Mike Prioletti, has built a reputation for outstanding customer service and has solidified deep customer relationships with its 17 dedicated employees.
The acquisition aims to enhance EVI’s presence in the Ohio market and to leverage Belenky’s experience in the industry. EVI plans to implement technologies and operational systems that will not only improve efficiency but also foster scalability and better customer service. EVI Chairman and CEO Henry Nahmad expressed enthusiasm about the partnership, emphasizing Belenky's well-managed operations and robust local reputation. Similarly, Robert Minster, Chairman of Belenky, highlighted the synergy expected from the partnership, which will enable Belenky to maintain its core philosophies while benefiting from EVI's resources.
Following the transaction, Belenky will retain its name, operational independence, and existing team structure, a strategic move aligned with EVI’s buy-and-build philosophy. This approach prioritizes collaboration with proven companies, empowering their leadership while pursuing growth and innovative strategies.
Despite the promising outlook, EVI has issued caution regarding the uncertainties that come with acquisitions, noting that the integration of Belenky may not yield the anticipated benefits. As EVI continues to maneuver in the dynamic commercial laundry sector, the acquisition of Belenky is poised to reinforce its market position while fostering enhanced customer experiences.
MWN-AI** Analysis
EVI Industries, Inc. (NYSE American: EVI) has recently completed the acquisition of Belenky, Inc., a significant move that could bolster EVI’s position in the commercial laundry sector. As the thirty-second commercial laundry business to join EVI, Belenky brings a wealth of experience and established customer relationships that can enhance EVI's operations in Ohio and beyond.
From an investment perspective, this acquisition aligns well with EVI's strategic buy-and-build philosophy, which focuses on partnering with well-managed companies that have strong local reputations. The leadership teams from both companies will remain intact, ensuring continuity in operations and corporate culture. This is crucial, as Belenky has a long-standing history rooted in strong customer service—a value EVI aims to preserve while leveraging its technological advancements to optimize Belenky's operational capabilities.
Investors should look at this acquisition as a positive indicator of EVI's growth strategy. Integrating Belenky into EVI's framework should provide cross-selling opportunities and enhanced operational efficiencies, potentially leading to revenue growth. Furthermore, as EVI continues to onboard comparable businesses, the company could improve its scale and market share significantly, which may enhance profitability and shareholder returns.
However, investors must remain cautious. The risks associated with integrating new acquisitions, including cultural misalignment and market factors, could impact EVI’s financial performance. Given that the acquisition has been paid for in cash, it’s important to consider how this move will affect EVI's liquidity in the short term.
Overall, EVI’s strategic acquisition of Belenky presents a compelling growth opportunity within the commercial laundry industry, but investors should monitor integration progress and financial health closely as the company adapts to its expanded portfolio.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
EVI Industries, Inc. (NYSE American: “EVI”) announced today 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 (32 nd ) 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.
About EVI Industries
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.
Forward-Looking Statements
Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EVI Industries, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the acquisition of Belenky may not be accretive to EVI Industries earnings or otherwise have a positive impact on EVI Industries operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations, and prospects of Belenky and EVI Industries plans with respect thereto. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI Industries filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the SEC on September 11, 2025, as amended by its Annual Reports on Form 10-K/A for the fiscal year ended June 30, 2025, filed with the SEC on October 24, 2025. Many of these risks and factors are beyond EVI Industries control. In addition, past performance and perceived trends may not be indicative of future results. EVI Industries cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EVI Industries does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260302912140/en/
EVI Industries, Inc.
4500 Biscayne Blvd., Suite 340
Miami, Florida 33137
(305) 402-9300
Henry M. Nahmad
Chairman and CEO
(305) 402-9300
Craig Ettelman
Director of Finance and Investor Relations
(305) 402-9300
info@evi-ind.com
FAQ**
How does EVI Industries Inc. EVI plan to integrate Belenky into its existing operations to ensure that the anticipated growth and efficiencies are realized after this acquisition?
What specific growth plans does EVI Industries Inc. EVI have for Belenky post-acquisition, and how will these plans enhance operational capabilities and customer experience?
Given the potential risks mentioned in the press release, what measures is EVI Industries Inc. EVI taking to mitigate integration risks associated with the acquisition of Belenky?
How will the acquisition of Belenky align with EVI Industries Inc. EVI's overall buy-and-build strategy, particularly in terms of maintaining company culture and empowering the existing leadership team?
**MWN-AI FAQ is based on asking OpenAI questions about EVI Industries Inc. (NYSE: EVI).
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