The Coin Laundry Association has teamed up with LIG Solutions – a division of Lighthouse Insurance Group – to offer CLA members, as well as their families and employees, access to exclusive healthcare insurance coverage, as part of CLA Business Solutions, a suite of products and services to help businesses be more successful. The offerings through this new agreement include a full suite of medical, dental, vision and disability coverages, along with the new Health Reimbursement Arrangements (HRAs) finalized in June 2019 for employers/employees. This program also features access to informationon the latest healthcare, personal wellness and lifestyle trends. “We want to provide access to quality healthcare products that fit the specific needs of the Coin Laundry Association’s members,” said Jason Farro, CEO of Lighthouse Insurance Group. “The plans can be tailored to fit the individual needs of members, their families and employees that off-the-shelf programs may not be able to provide.” The health insurance coverage offered through LIG utilizes plan options frommany of the leading national carriers, and the program is designed to be a vehicle to promote healthier lifestyle choices and preventive care options for the association’s membership. “This is a wonderful and valuable asset for our membership across the country,” noted CLA President and CEO BrianWallace. “This is an affordable and comprehensive health plan that you or your employees can use today.” Coverages are offered concierge-style to members in a centralized portal, thus cutting through the confusion that often accompanies shopping for healthcare insurance. The offerings – which are culled from nationally recognized carriers in all 50 states – offer solutions that are designed to meet the specific health needs and budgets of CLA members, their families and employees. “Healthcare coverage is a concern of nearly every single American and their family, and this program is a valuable tool in a membership organization’s member growth and retention arsenal,” explained Tim McNichols, executive director of partnerships for LIG Solutions. “Organizations can leverage this exclusive member benefit to build an even stronger bond with their members. And, with the new Health Reimbursement Arrangements program, we can offer options that cover nearly 100 percent of the membership – including employee classes such as part-time and seasonal workers, as well as full-time and 1099/independent contractors – with individual coverage options.” LIG Solutions – headquartered in Cleveland, Ohio – specializes in offering comprehensive, turnkey insurance solutions for associations, societies, membership organizations and other groups.Withmore than 30 years of combined experience in the health, life and Medicare insurance industry, LIG has successfully distributed more than 60,000 new insurance policies nationwide per year.
EVI Industries Inc., headquartered inMiami, has executed a definitive merger agreement to acquire commercial laundry distributor Yankee Equipment Systems Inc., based in Barrington, N.H., for $13.5 million, to be paid in a combination of cash and EVI common stock. The acquisition will add approximately $31 million in revenue to EVI, distributed over 2,200 vended, on-premises, multi-family and industrial laundry customers, according to EVI. “Yankee Equipment Systems has a long and magnificent legacy, and we are proud to become part of their family,”said EVI Chairman and CEO Henry M. Nahmad.“Consistent with our operatingmodel,Yankee Equipment Systems will continue to be led by Peter Limoncelli and will operate under its current name, from its present location, and with its existing team to provide its customers, employees and vendor partners business continuity.” This purchase complements other EVI acquisitions completed in 2019, including the purchase of PAC Industries and Professional Laundry Systems. In connection with this growth, Limoncelli will be named president of EVI’s Northeast Operations, which will consist of Yankee Equipment, PAC Industries and PLS, and boast a staff of 120 laundry professionals. Since October 2016, EVI has acquired 14 commercial laundry businesses. A true laundry industry icon, Jerry Giangrasso, who helped co-found Super Laundry Equipment, recently celebrated his 90th birthday with some of his closest friends in the business. Jerry is still going as strong as ever, even after 60 years in the laundry industry. “I am just one of many peoplewho Jerry has influenced over his long historic career,” said CLA Chairman Brian Grell, executive vice president of Eastern Funding, based in NewYork City.“No one in this industry has built more stores or sold more machines. The list of happy customers is endless – and now extends to a second and even third generation of laundry owners. To my mentor, thank you for leading by example and your infectious passion for helping others. Don’t ever stop!” EVI Industries to Acquire Yankee Equipment Systems