EVI Industries Announces Closings of Sudsies Asset Purchases

What Happened EVI Industries, Inc. (EVI) announced it closed acquisitions of substantially all assets of Sudsies-related businesses on September 1, 2026. The transactions trace to asset purchase agreements dated July 17, 2026 and amendments dated August 31, 2026 that changed previously partly-stock consideration to all-cash payments. The buyer entities include Garment Care Services FL, LLC, an indirect wholly owned subsidiary of EVI.

Key Details

• Transaction C (Sudsies On‑Site assets): amended purchase price is $900,000, now payable entirely in cash (amendment dated Aug. 31, 2026; original deal contemplated $800,000 cash + $100,000 stock).
• Transaction D (personal goodwill of Jason Loeb in Sudsies): amended purchase price is $7,124,778, now payable entirely in cash (amendment dated Aug. 31, 2026; original deal contemplated $6,624,778 cash + $500,000 stock).
• Closings occurred on September 1, 2026; EVI issued a press release on September 2, 2026 announcing the closings.
• Immediately after closing EVI paid approximately $1.9 million to vehicle lessors (vehicles transferred to buyers) and reimbursed Jason Loeb $860,000 for cash bonuses he paid to certain employees prior to closing.

Why It Matters These transactions expand EVI’s garment-care operations by acquiring Sudsies assets and key personal goodwill, and the August 31 amendments convert previously proposed equity consideration into cash, increasing the company’s near‑term cash outflows. Investors should note the material cash payments (totaling multi‑million dollars including $7.1M goodwill and ~$1.9M lessor payments plus $860K reimbursement) that could affect liquidity and capital allocation. The filings and press release provide the definitive agreements and the company’s disclosure of these immediate post‑closing cash uses.