Acquiring Company
EVI Industries
Acquired Company
hiline
Description
EVI Industries, Inc. (NYSE American: “EVI” or the “Company”) announced today that it simultaneously executed a definitive asset purchase agreement and completed the acquisition of Express Parts and Services (“EXP”), a distributor of commercial laundry products and a provider of related technical installation and maintenance services based in Sykesville, Maryland. The addition of EXP increases EVI’s presence and market share in the state of Maryland and will enable the Company to provide increased customer service throughout the region.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed