Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.22.2.2
Subsequent Events
3 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note (13) – Subsequent Events:

On November 1, 2022, the Company, indirectly through a wholly-owned subsidiary, acquired substantially all of the assets of Wholesale Commercial Equipment Company SE, LLC (“Wholesale Commercial Equipment”), an Alabama-based distributor of commercial, industrial, and vended laundry products and provider of installation and maintenance services to the new and replacement segments of the commercial, industrial and vended laundry industry. In connection with the transaction, the Company, indirectly through its wholly-owned subsidiary, also assumed certain of the liabilities of Wholesale Commercial Equipment. The consideration paid by the Company in connection with the transaction was not material to the Company on a consolidated basis. The financial condition and results of operations of Wholesale Commercial Equipment subsequent to the November 1, 2022 closing date of the transaction will be included in the Company’s consolidated financial statements commencing with the quarter ending December 31, 2022.