Mac-Gray Revenue and Competitors

Mac-Gray derives its revenue principally through the contracting of card and coin-operated laundry rooms in multiple housing facilities such as apartment buildings, colleges and universities, condominiums and public housing complexes. Mac-Gray contracts its laundry rooms under long-term leases with property owners, colleges and universities and government agencies. These leases typically grant Mac-Gray exclusive contract rights to laundry rooms on the lessor's premise for a fixed term, which is generally seven to ten years, in exchange for a negotiated portion of the revenue collected. Mac-Gray's laundry route business consists of approximately 31,000 multiple housing laundry rooms located in 30 states in the Northeastern, Midwestern and Southeastern United States. Mac-Gray also sells, services and leases commercial laundry equipment to commercial laundromats and institutions.