EVI Industries, Inc. (NYSE American: “EVI” or the “Company”) announced today that it simultaneously executed a definitive agreement and completed the acquisition of New York, NY based Spynr, Inc. (“Spynr”), EVI’s twentieth (20th) acquisition. Spynr is a highly specialized full-service marketing agency with deep roots in the commercial laundry industry. Spynr provides owners of laundry businesses a variety of marketing services, including branding, web design, digital advertising, social media services, content development, SEO, and other related services aimed to reach and attract customers to their laundry businesses efficiently and effectively.
Spynr was founded by Mr. Dennis Diaz, a young and dynamic entrepreneur with over twelve years of experience in the commercial laundry industry. Mr. Diaz leads a team of thirteen digital marketing professionals that together have developed, and deployed marketing solutions specifically designed for the commercial laundry industry.
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Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “Our customers make significant financial investments in their laundry businesses. Given the competitive environment, maximizing the return on their investment also requires laundry business owners to think and deliver across the entire marketing spectrum, from branding to web design to digital marketing, and beyond. To that end, we seek to provide these critical services to existing and prospective customers such that they may achieve their return expectations. Through Spynr, we expect to deliver the industry and our Company these necessary marketing capabilities.”
Spynr will operate as a subsidiary of EVI under its current name and from its present location, will continue to be led by Mr. Diaz and all its associates, and have the full extent of EVI’s resources with which to execute on the Company’s long-term growth strategy. In addition, Mr. Diaz will serve as EVI’s Director of Marketing. Given Mr. Diaz’s service as a board member of the Coin Laundry Association and the LaundryCares Foundation, the Company believes it strengthened its leadership team with a well-recognized and accomplished industry professional.
EVI’s Long-Term Strategy
EVI is in the early stages of a long-term growth strategy to build an enterprise through which it may deliver comprehensive laundry solutions to all segments of the commercial laundry industry.
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,
- Pursue aggressive growth plans and help the leadership team achieve their goals,
- Create an ownership culture by motivating the team with long-term equity, and
- Collaborate on new and transformative ideas to foster a spirit of growth and innovation.
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