Our Long Term Growth Strategy
A Proven Blueprint for Achieving Sustainable Success Over the Long-Term
EVI executes a long-term buy-and-build growth strategy where the “buy” component includes the pursuit of acquisitions and other strategic transactions that complement our existing businesses or that might otherwise offer growth opportunities for our Company. The “build” component principally involves encouraging growth at our acquired businesses by expanding product and service offerings, growing our sales teams and customer relationships, strengthening service and operating capabilities, investing in scalable technologies, and promoting the exchange of ideas and business concepts between the management teams of our businesses. Our businesses have access to the full extent of our capital resources, functional support specialists, and established vendor relationships which we believe positions them to achieve growth and increased profitability. We have also developed a culture whereby leaders, managers and employees are provided the opportunity to own shares of EVI through equity-based plans. We believe that this culture instills a performance-driven, long-term focus on the part of our employees and aligns their interests with the interests of EVI’s other shareholders.
Buy
The "buy" component of our strategy focuses on the consideration and pursuit of acquisitions or other strategic transactions that complement the Company's existing business or that might otherwise offer beneficial opportunities for growth. We are disciplined and conservative when considering acquisitions and generally seek to identify opportunities that fit specific financial, operational, and strategic criteria. Businesses that we acquire may build sales and service density, enhance sales and service capabilities, expand geographic footprint, and complement existing product and service offerings.
Build
The “build” component of our strategy principally involves encouraging growth at our acquired businesses by adding products and services, developing sales and technical professionals, optimizing operations, and implementing scalable technologies aimed to satisfy the wide range and consistent needs of customers across all end-markets of the laundry industry.
We respond to commercial laundry customer needs by (i) offering a broad range of product lines, including the necessary equipment at an array of price-points, parts, and supplies to address customer needs, (ii) providing a high degree of technical expertise through a knowledgeable and growing sales organization, (iii) employing highly qualified installation specialists and support teams which aim towards ensuring timely and proper installations and a large and well-trained team of service technicians with a broad range of technical capabilities, (iv) maintaining well-stocked inventories in strategically located facilities to fulfill customer sales orders and service needs in a timely manner, (v) collaborating with customers to advertise and market their business and services in local markets, and (vi) developing and implementing technology to further enhance customer service capabilities.
We respond to customer needs within the consumer garment care segment by (i) expanding the range of specialized services our businesses provide, from everyday care to alteration, repair, restoration, and preservation, (ii) investing in the facilities and equipment that quality care requires, (iii) providing ongoing training in fabrics, garment construction, and the requirements of individual labels, (iv) extending the reach of pickup and delivery operations by developing and implementing technology, and (v) establishing shared standards and operating practices that allow our businesses to grow while delivering consistent quality care.
In some geographic areas, we believe we have a competitive advantage in our commercial businesses over factory-operated distribution networks, which typically do not maintain inventories of equipment, parts and supplies that are as diversified as ours and which have fewer sales professionals, installation specialists, and service technicians than we do, which we believe makes it more difficult for these competitors to meet the varying needs and time-sensitive demands of commercial laundry customers. Our consumer garment care services businesses benefit from combining the local reputation and craftsmanship customers value, with the capital support to build on the customer experience through investments in facilities, talent, and technology. Ultimately, we believe these concepts provide our Company a competitive advantage over smaller, less-capitalized competitors that may be unable to commit resources to open and maintain facilities, provide the same range of products and services, attract and develop the wide range of expertise that is required to service any customer, or implement technological business solutions.