In a strategic acquisition that expands its contract foodservice equipment business serving national restaurant chains, Singer Equipment Co. has purchased EVI, a Maryland-based dealer. Financial terms of the deal were not disclosed.
EVI’s Tom and Dana Lawson will remain with the dealership, which will go to market as Singer EVI LLC, and continue to serve chains as well as independent restaurant operators.
Singer Equipment Co. reported annual revenues of $325 million in 2017, making it the sixth largest foodservice equipment and supplies dealer, per FE&S’ 2018 Distribution Giants Study. EVI reported annual revenues of $39 million, making it 37th largest dealer, per FE&S’ 2018 Distribution Giants study.
This marks Singer’s second acquisition within the past 13 months and the third Maryland company it has purchased. In December 2017, Singer acquired Facilities Services Inc., also a Maryland-based foodservice equipment and supplies dealer. And in September 2017, Singer acquired Ashland Equipment, also based in Maryland.
“Singer will continue to look for other strategic acquisitions that enhance our ability to service key markets and customers,” says Fred Singer, the dealer’s president and chief executive officer.