SEPTEMBER 2018
Late News EnviroStar to acquire Industrial Laundry Services MIAMI — EnviroStar, Inc. (EVI) reports it has executed a definitive purchase agreement to acquire substantially all the assets and assume certain liabilities of Orlando-based Industrial Laundry Services Inc. (ILS), using a combination of cash and EVI stock. ILS is a provider of commercial laundry installation and maintenance services to customers in central Florida. EVI says the addition of ILS is consistent with its growth strategy to build the industry’s largest distributor of commercial and vended laundry products, supported by the most advanced service organization. ILS will continue to operate as it has, under the leadership of Troy and Erin Piper, using the same name, with the same people, and with the support and resources of Steiner Atlantic Corp., an EVI business unit based in Miami. The transaction is expected to close upon the satisfaction of customary closing conditions. EVI expects the addition of ILS to be accretive to its fiscal year ended June 30, 2019. ALN
Laundry has good family ‘Division’ The Garcia family has made a name for itself over nearly eight decades with its San Antonio laundry BY MATT POE, EDITOR
Garcia’s daughter, Patricia Luna, is vice president of administration, and son SAN ANTONIO — In 2019, Division Patrick A. is vice president of finance. Laundry & Cleaners will celebrate its 80th His other daughter, Theresa, is vice presianniversary here. dent of operations, and son-in-law Adam Besides laundry, one thing has Luna is director of purchasing. remained constant in the busi“The benefits with a well-oiled ness over the decades: the Garcia family business is to establish family. continuity so that our customLeading the way is Patrick R. ers will trust their future with Garcia, the current president of Division Laundry being their Division Laundry & Cleaners. linen service provider,” says Son of company founder, Peter, Garcia. “We have a long, respecthe started working for the comable track record with customer pany at age 13 during the sumretention in the high 90%. We Patrick R. mer months and has worked his have many customers with close Garcia way up through the ranks. to 40 years of continued service
Peter Garcia started Division Laundry in 1939, laundering troop uniforms at Fort Sam Houston in San Antonio. (Photo: Division Laundry & Cleaners)
with Division.” He can say Division is a “well-oiled family business” because the Garcias won the 2018 San Antonio Hispanic Chamber of Commerce Family Business of the Year Award. See DIVISION on Page 2
Securing laundry equipment financing Laundry operations need to consider variables, options when making capital decisions BY MATT POE, EDITOR CHICAGO — Let’s face it, industrial laundry equipment isn’t inexpensive. That means if a laundry operator needs to purchase new equipment or wants to expand, it will likely need to secure financing for the purchase. But what does securing financing in 2018 entail? American Laundry News spoke with a financing company and several laundry equipment manufacturers to find out what is affecting financing, along with suggestions to help laundry operations navigate today’s financing climate. Currently, banking regulations and rising interest rates are two key factors influencing the ability of laundry operators Volume 44, Number 9
INSIDE Columnist at Large Laundry employees need to realize their importance in patient care, says Eric Frederick.
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(Image licensed by Ingram Publishing)
to secure equipment financing and competitive terms, says Chris Lewis, a senior regional manager at Summit Funding Group, an Ohio-based company that provides equipment lease and finance solutions to businesses across the United States
www.americanlaundrynews.com
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Clean Show 2019 Exhibit sales and hotel reservations are open for the 2019 Clean Show in New Orleans.
and Canada. “Over the last number of years, banks and other depository institutions have tightened restrictions and become increasSee FINANCING on Page 6
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