XML 41 R29.htm IDEA: XBRL DOCUMENT v3.22.2.2

Acquisitions (Tables)

12 Months Ended

Jun. 30, 2022

Business Acquisition [Line Items]

Schedule of supplemental pro forma results of operations

		For the year ended June 30,
(in thousands)		2022 (Unaudited)				2021 (Unaudited)
Revenues		$	284,392			$	278,323
Net income			6,018				11,496

Consolidated Laundry Equipment [Member]

Business Acquisition [Line Items]

Schedule of purchase price

The CLK Acquisition was treated for accounting purposes as a purchase of CLK using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations. Under the acquisition method of accounting, the aggregate consideration paid in the CLK Acquisition was allocated to the acquired assets and assumed liabilities, in each case, based on their respective fair values as of the closing date, with the excess of the consideration transferred over the fair value of the net assets acquired being allocated to intangible assets and goodwill. The computation of the purchase price consideration and the preliminary allocation of the consideration to the net assets acquired are presented in the following tables (in thousands):

Purchase price consideration:
Cash consideration, net of cash acquired(a)		$	3,346
Stock consideration(b)			3,840
Total purchase price consideration, net of cash acquired		$	7,186

(a) Includes $4.5 million paid net of $1.2 million of cash acquired.

(b) Calculated as 179,087 shares of the Company’s common stock, multiplied by $21.44, the closing price of the Company’s common stock on the closing date.

Schedule of allocation of purchase price consideration

Allocation of purchase price consideration:
Accounts receivable		$	1,322
Inventories			2,074
Vendor Deposits			170
Other assets			835
Equipment and improvements			841
Intangible assets			1,700
Accounts payable and accrued expenses			(948	)
Accrued employee expenses			(62	)
Customer deposits			(689	)
Deferred tax liabilities			(622	)
Total identifiable net assets			4,621
Goodwill			2,565
Total		$	7,186

Clean Designs, Inc. [Member]

Business Acquisition [Line Items]

Schedule of purchase price

Purchase price consideration:
Cash consideration		$	5,366
Total purchase price consideration		$	5,366

Schedule of allocation of purchase price consideration

Allocation of purchase price consideration:
Accounts receivable		$	920
Inventories			1,286
Other assets			161
Equipment and improvements			770
Intangible assets			1,580
Accounts payable and accrued expenses			(1,357	)
Accrued employee expenses			(72	)
Customer deposits			(336	)
Total identifiable net assets			2,952
Goodwill			2,414
Total		$	5,366

Yankee Equipment Systems, Inc [Member]

Business Acquisition [Line Items]

Schedule of purchase price

The YES Acquisition was treated for accounting purposes as a purchase of YES using the acquisition method of accounting in accordance with ASC 805, Business Combinations. Under the acquisition method of accounting, the aggregate consideration in the YES Acquisition was allocated to the acquired assets and assumed liabilities, in each case, based on their respective fair values as of the closing date, with the excess of the consideration transferred over the fair value of the identifiable assets acquired being allocated to goodwill. The computation of the purchase price consideration and the allocation of the consideration to the net assets acquired are presented in the following tables (in thousands):

Purchase price consideration:
Cash consideration, net of cash acquired(a)		$	4,475
Stock consideration(b)			8,521
Total purchase price consideration, net of cash acquired		$	12,996

(a) Includes $5.3 million paid net of $792,000 of cash acquired.

(b) Calculated as 278,385 shares of the Company’s common stock, multiplied by $30.61, the closing price of the Company’s common stock on the closing date.

Schedule of allocation of purchase price consideration

Allocation of purchase price consideration:
Accounts receivable		$	1,482
Inventory			1,591
Other assets			1,812
Equipment and improvements			1,844
Intangible assets			3,800
Accounts payable and accrued expenses			(1,901	)
Accrued employee expenses			(534	)
Customer deposits			(525	)
Deferred tax liabilities			(887	)
Assumption of debt			(916	)
Total identifiable net assets			5,766
Goodwill			7,230
Total		$	12,996

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_BusinessAcquisitionLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=evi_ConsolidatedLaundryEquipmentMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=evi_CleanDesignsIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=evi_YankeeEquipmentSystemsIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: