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                                                                    EXHIBIT 99.4
 
                                    CONSENT
 
       [Letterhead of Merrill Lynch, Pierce, Fenner & Smith Incorporated]
 
Board of Directors
Weatherford Enterra, Inc.
1360 Post Oak Blvd., Suite 1000
Houston, Texas 77056-3098
 
Members of the Board of Directors:
 
     We hereby consent to the inclusion of our opinion letter to the Board of
Directors of Weatherford Enterra, Inc. ("Weatherford"), dated March 4, 1998, as
Appendix C to the Joint Proxy Statement/ Prospectus of EVI, Inc. ("EVI") and
Weatherford relating to the proposed merger transaction involving EVI and
Weatherford and to references to our firm and such opinion letter in the Joint
Proxy Statement/ Prospectus under the captions "Summary", "The Merger" and
"Opinions of Financial Advisors". In giving such consent, we do not admit that
we come within the category of persons whose consent is required under Section 7
of the Securities Act of 1933 or the rules and regulations of the Securities and
Exchange Commission promulgated thereunder, nor do we admit that we are an
expert with respect to any part of the Registration Statement on Form S-4 of EVI
in which the Joint Proxy Statement/Prospectus is included, within the meaning of
the term "expert" as used in the Securities Act of 1933 or the rules and
regulations of the Securities and Exchange Commission promulgated thereunder.
 
/s/ MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
 
Houston, Texas
April 6, 1998