Alliance Laundry Systems
Alliance Laundry Systems is a provider of laundry systems to the commercial market. The company designs, manufactures, and markets a line of commercial laundry equipment in over 100 countries. Among the company’s products are washers, drying tumblers and ironers for the coin laundry, multi-housing laundries, institutional laundries and laundries for consumer residences. Alliance Laundry Systems manufactures products under the brands Speed Queen, Cissell, Huebsch, IPSO, and UniMac. The company was founded in 1908 and is based in Ripon, Wisconsin.
History
The company began in the early 20th century with the introduction of a hand-operated washer to the marketplace. The Speed Queen brand with the introduction of stainless steel wash tubs in 1938 and automatic washers and dryers in 1952.
Alliance was acquired by Raytheon Corporation in 1979. In February 1998, private equity firm Bain Capital agreed to acquire the commercial laundry business from Raytheon for $358 million.[1]
In January 2005, Teachers' Private Capital, the private equity affiliate of the Ontario Teachers' Pension Plan acquired the majority of the equity interests of Alliance Laundry for $450 million.[2]
In 2009, the Alliance Laundry Systems University (ALSU) was founded as a corporate university available online to authorized Alliance Laundry Systems distributors, route operators and customers.[3]
In March 2014, the Alliance Laundry acquired Primus Laundry Equipment headquartered in Gullegem, Belgium for approx. $259.4 million. [4]
In April 2015, it was reported that Ontario Teachers' Pension Plan is planning to sell or IPO Alliance Laundry, valuing the business at $2 billion. [5]
References
External links
- Alliance Laundry Systems (company website)
- ↑ Raytheon in $358 million Deal to Sell Laundry Business. New York Times, February 24, 1998
- ↑ [1]. "Ontario Teachers' to purchase Alliance Laundry Systems LLC". BusinessWire, December 8, 2004
- ↑ [2]. Alliance Laundry Systems University page at Alliance Laundry website
- ↑ Referenzfehler: Ungültiges
<ref>-Tag; kein Text angegeben für Einzelnachweis mit dem Namen 2014-Annual-Report. - ↑ [3]. "Ontario Teachers’ Said to Plan Sale or IPO of Alliance Laundry". BloombergBusiness, April 6, 2015