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 business or that might otherwise offer growth opportunities for our Company and the “build” component principally involves encouraging growth at our acquired businesses by adding product lines, growing our sales teams, expanding installation and service operations, 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 OEM and 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.
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 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.
The “build” component of our strategy principally involves encouraging growth at our acquired businesses by adding products, developing sales professionals, expanding service operations, and implementing scalable technologies aimed to satisfy the wide range and consistent needs of customers across all end-markets of the commercial laundry industry. We respond to 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.
In some geographic areas, we believe we have a competitive advantage 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. 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, attract the wide range of expertise that is required to promote and support a diverse product offering, maintain the same inventory levels, or implement technological business solutions.