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Alliance Laundry Systems

Alliance Laundry Systems LLC is an American provider of commercial laundry systems. The company designs, manufactures, and markets a line of commercial and industrial laundry equipment under various brands in over 100 countries.[2] 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,[3][4][5] Primus, Huebsch, IPSO, and UniMac. The company was founded in 1998 and is based in Ripon, Wisconsin.[6] However, Alliance claims Speed Queen's founding date of 1908 as the beginning for the company.[7]

History

Background

The company's precursor Barlow & Seelig Manufacturing was established in 1908 and later introduced a hand-operated washer to the marketplace. The Speed Queen brand was created in 1928 with the introduction of stainless steel wash tubs in 1939[8] and automatic washers and dryers in 1952.[9] Eventually Barlow & Seelig was renamed Speed Queen Company, and was later purchased by McGraw-Edison. In 1979, McGraw-Edison sold its appliance division to Raytheon Company.

Formation

In February 1998, private equity firm Bain Capital agreed to acquire the commercial laundry business from Raytheon for $358 million.[10][11][12][13] And as a result, Alliance Laundry Systems was formed.

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.[14][15][16]

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.[17]

In March 2014, the Alliance Laundry acquired Primus Laundry Equipment headquartered in Gullegem, Belgium for approx. $259.4 million.[1][18][19]

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.[20][21] Later in 2015, a majority stake was sold to BDT Capital Partners. The Pension Plan retained a minority stake in the company.[22]

References

  1. . Alliance Laundry Systems 2014 Annual Report.^
  2. Asian Hotel & Catering Times 2005^
  3. Tax Notes International Tax Analysts, 2003^
  4. Teaming for Efficiency: Energy and environmental policy American Council for an Energy-Efficient Economy, 2002^
  5. Efraim Turban. Electronic commerce 2006: a managerial perspective Pearson Prentice Hall, 2006^
  6. ((Hoover's Business Press)). Hoover's Handbook of Private Companies Hoover's Business Press, 2010^
  7. Our story Alliance Laundry Systems, retrieved 2023-07-07^
  8. The Speed Queen Story - The History and The Present Speed Queen, retrieved 2021-12-23^
  9. A portrait of Ripon: historic photographs of Ripon, Wisconsin Ripon Main Street, Inc., 2000^
  10. Raytheon in $358 million Deal to Sell Laundry Business. New York Times, February 24, 1998^
  11. HotelBusiness ICD Publications, 1998^
  12. Gary Hoover. Hoover's Handbook of American Business Reference Press, Incorporated, 1999^
  13. Executive Housekeeping Today National Executive Housekeepers Association, 1998^
  14. Hoover's. Hoover's Masterlist of Major US Companies, A-Z Hoovers Incorporated, 1 October 2005^
  15. . "Ontario Teachers' to purchase Alliance Laundry Systems LLC". BusinessWire, December 8, 2004^
  16. Amy Or. Ontario Teachers' Pension Plan to Buy 30% Stake in CSC ServiceWorks - WSJ WSJ, 21 October 2014^
  17. . Alliance Laundry Systems University page at Alliance Laundry website^
  18. Giving laundries greater flexibility with control laundryandcleaningnews.com, retrieved 2015-11-17^
  19. Wasmachinegroep Primus overgenomen door Alliance Laundry 11 February 2014, retrieved 2 April 2019^
  20. . "Ontario Teachers’ Said to Plan Sale or IPO of Alliance Laundry". BloombergBusiness, April 6, 2015^
  21. Scott Deveau and Leslie Picker, Bloomberg News. Ontario Teachers' Pension Plan said to seek sale or IPO of $2-billion company Alliance Laundry Financial Post, 6 April 2015^
  22. BDT Capital Partners, LLC Agrees to Acquire a Majority Stake in Alliance Laundry Systems from Ontario Teachers' Alliance Laundry Systems, retrieved 2016-05-14^