Alliance Laundry Systems LLC is a provider of commercial laundry systems. The company designs, manufactures, and markets a line of commercial laundry equipment under various brands 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.
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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.
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.
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.
In March 2014, the Alliance Laundry acquired Primus Laundry Equipment headquartered in Gullegem, Belgium for approx. $259.4 million.
In April 2015, it was reported that Ontario Teachers' Pension Plan was planning to sell Alliance Laundry or issue an IPO, valuing the business at $1.8 billion. Later in 2015, a majority stake was sold to BDT Capital Partners.
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References
Source of article : Wikipedia
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