EVI Industries Bolsters Northeast US Footprint Via ALCO Washer Center Acquisition
Portfolio Pulse from Shivani Kumaresan
EVI Industries Inc has announced a definitive agreement to acquire ALVF, Inc. dba ALCO Washer Center, a distributor of commercial laundry products. The acquisition aims to increase EVI's customer base and expand its distribution and service footprint in the northeast region of the U.S. The deal is EVI's twenty-fifth acquisition of a commercial laundry business. EVI shares are trading higher by 3.47% at $25.36.
July 31, 2023 | 4:26 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
EVI Industries' acquisition of ALCO Washer Center is expected to expand its customer base and distribution footprint in the northeast U.S. The company's shares are trading higher following the announcement.
The acquisition of ALCO Washer Center by EVI Industries is a strategic move to expand its customer base and distribution footprint in the northeast U.S. This is likely to boost the company's revenues in the future, which is a positive signal for investors. As a result, the company's shares are trading higher following the announcement, indicating a positive market reaction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100