Who Owns EVI Industries Company?

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Who Owns EVI Industries?

Understanding EVI Industries' ownership is key to grasping its strategic path and governance. A significant shift occurred in March 2015 when Henry M. Nahmad acquired a controlling stake, initiating a focused growth strategy.

EVI Industries, established in 1959 as Steiner Atlantic Corp, has evolved significantly, rebranding from EnviroStar, Inc. to its current name in 2018 to better reflect its market focus. The company is the sole U.S. public entity dedicated to commercial laundry distribution and services, serving diverse sectors nationwide and internationally. As of August 2025, its market capitalization stands at approximately $313.10 million.

The ownership landscape of EVI Industries, from its inception to its current structure, is shaped by key investors and board dynamics. Examining these elements provides insight into the company's operational direction and future prospects, including its EVI Industries PESTEL Analysis.

EVI Industries traces its origins back to 1959 with the founding of Steiner Atlantic Corp, the initial distribution company that would evolve into EVI. While specific details on the equity split and all original founders of Steiner Atlantic Corp are not widely publicized, the company's early history shows a strong focus on distributing and servicing commercial laundry equipment.

Founding of Steiner Atlantic Corp Established in 1959, Steiner Atlantic Corp was the precursor to EVI Industries. Its initial operations centered on the distribution and service of commercial laundry equipment. Transition to Public Company EVI Industries became a publicly traded entity in 1998. This marked a significant step in its corporate evolution and accessibility to public investment. Early Ownership Information Details regarding early backers, angel investors, or friends and family who acquired stakes during the initial phases are not readily available in public records. Early Agreements Information concerning early agreements such as vesting schedules or buy-sell clauses from the company's nascent period is not publicly disclosed. Current Strategic Focus The company's current strategic vision, significantly shaped by its leadership since 2015, champions an entrepreneurial spirit and a culture geared towards growth. Foundation in Commercial Laundry This growth-oriented approach likely builds upon the original foundation of business development established within the commercial laundry sector.

The company's current strategic vision, heavily influenced by its leadership since 2015, emphasizes an entrepreneurial mindset and a culture of growth, which likely builds upon an original foundation of business development within the commercial laundry sector. Understanding the Mission, Vision & Core Values of EVI Industries provides context for how this early focus continues to shape the company's trajectory.

Key Aspects of EVI Industries' Early Ownership

While specific details about the initial ownership structure of EVI Industries are scarce, the company's history points to a foundational period focused on establishing its presence in the commercial laundry market.

• Founding entity: Steiner Atlantic Corp in 1959.
• Core business: Distribution and service of commercial laundry equipment.
• Public trading: Began in 1998.
• Limited early investor data: Specifics on early backers and agreements are not publicly detailed.
• Leadership influence: Current strategy shaped by leadership since 2015.

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EVI Industries became a publicly traded company in 1998, with its shares listed on the NYSE American under the ticker symbol EVI. A pivotal moment in its ownership history occurred in March 2015 when Henry M. Nahmad acquired a controlling stake, subsequently taking on the roles of President and CEO. This transition initiated the company's 'buy-and-build' strategy, focusing on acquiring family-owned businesses to enhance its market presence.

The consolidation of voting power by Henry M. Nahmad, alongside the company's management and Board of Directors, to approximately 57.9% as of June 30, 2024, designates EVI Industries as a 'controlled company' under NYSE American regulations. This level of control significantly influences the company's strategic direction, particularly its aggressive acquisition-driven growth model and its decentralized operational framework. Beyond this insider control, institutional investors like Geode Capital Management LLC and State Street Corp hold notable stakes, with Symmetric Capital LLC being a major shareholder holding 32.37% of the equities as of November 2024. These ownership dynamics are central to understanding EVI Industries' corporate governance and its approach to market expansion, as detailed in the Marketing Strategy of EVI Industries.

Key Ownership Insights

EVI Industries is classified as a controlled company due to significant insider voting power.

• Henry M. Nahmad, management, and the Board of Directors collectively hold approximately 57.9% of the voting power.
• Symmetric Capital LLC is a substantial shareholder with 32.37% of the company's equities.
• The company's public listing on the NYSE American under EVI began in 1998.
• A major ownership shift occurred in March 2015, marking the start of the current growth strategy.

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The current Board of Directors at EVI Industries is instrumental in the company's governance, with management holding substantial voting power. Key figures include Henry M. Nahmad, who leads as Chairman, Chief Executive Officer, and President, alongside Robert H. Lazar as CFO and Thomas Marks as EVP of Business Development.

EVI Industries operates with a one-share-one-vote structure for its common stock. However, a significant concentration of voting power, approximately 57.9% of outstanding common stock as of June 30, 2024, is held by Henry M. Nahmad and other members of the management team. This level of control leads to EVI Industries being classified as a 'controlled company' by the NYSE American. This status grants the company exemptions from certain corporate governance mandates, such as requiring a majority of independent directors or independent committees for executive compensation and director nominations. This concentrated ownership allows management to exert considerable influence over director elections and other shareholder-approved matters, fostering alignment with sellers of acquired businesses who often receive stock as consideration. There have been no reported instances of recent proxy contests or activist investor campaigns impacting the company's decision-making processes.

EVI Industries' Governance Structure

EVI Industries' corporate governance is shaped by its ownership structure. Management's significant voting power influences key decisions.

• Management holds approximately 57.9% of voting power as of June 30, 2024.
• The company is classified as a 'controlled company' by NYSE American.
• This classification allows for exemptions from certain independent director requirements.
• The ownership structure aligns management interests with those of acquired business sellers.
• Understanding this structure is key to grasping Target Market of EVI Industries.

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EVI Industries has been actively pursuing a 'buy-and-build' strategy, significantly expanding its operations through numerous acquisitions over the past few years. This strategic expansion has reshaped its ownership landscape by integrating new entities and their stakeholders into the EVI framework.

The company's growth strategy involves integrating acquired businesses, many of which were family-owned, into the EVI structure. These acquisitions are often financed with a mix of cash and stock, which can align the interests of the sellers, who frequently continue to manage their businesses post-acquisition. This approach fosters a shared ownership culture and contributes to EVI Industries' overall expansion. The company reported record revenue of $280 million and net income of $5.4 million for the nine months ending March 31, 2025, reflecting the success of its consolidation strategy within the commercial laundry distribution sector. This trend of industry consolidation sees EVI Industries actively participating by acquiring complementary businesses to enhance market density and customer service.

Strategic Acquisitions Drive Growth

EVI Industries has completed multiple acquisitions, including ASN Laundry Group and Girbau North America, in 2025. These moves are central to its 'buy-and-build' strategy.

Financial Performance Highlights

The company achieved record results for the nine months ending March 31, 2025, with revenue up 6% to $280 million. Net income reached $5.4 million during this period.

Consolidation in the Industry

EVI Industries is actively participating in the consolidation trend within commercial laundry distribution. This involves integrating businesses to increase market density and pursue new growth avenues.

Ownership Alignment Through Acquisitions

Acquisitions often involve cash and stock, aligning sellers' interests with EVI's long-term goals. Many sellers continue to operate their businesses post-acquisition, fostering an ownership culture. Read more about the Brief History of EVI Industries.

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