RIPON, Wis. — Commercial laundry equipment manufacturer Alliance Laundry Systems has begun the process of acquiring the laundry division assets of distributor Gulf States Machinery Co. and is expected to close on the purchase in the third quarter this year, Alliance reports.
Terms of the acquisition were not disclosed.
Gulf States is a family-owned business founded by Harish and Pravin Parmar in Houston. It later added an Atlanta office in 1987 managed by Ben Prema.
The distributor “has grown into a leader in the vended laundry industry, displaying incredible resilience and commitment to customer service,” Alliance says.
“Gulf States embodies all the attributes we look for in a quality partner: sales excellence, strong leadership and exceptional business ethics,” says Rick Pyle, president and chief commercial officer of Alliance Laundry Systems. “We expect great growth opportunities and exceptional synergies in joining with Gulf States.”
This is Alliance’s fourth distributor asset acquisition of 2021; the others were D&M Equipment Co., Washburn Machinery Inc. and PWS Inc.
While Alliance will acquire Gulf State’s laundry division assets, Gulf State’s drycleaning business is not included in the acquisition.
Pyle added that he couldn’t be more thrilled by the performance of Alliance’s direct distribution partners, which demonstrates the effectiveness of Alliance’s strategy of selecting great companies in growing markets.
“We are delighted to further our already strong relationship with Alliance Laundry Systems through this new chapter,” says Pravin Parmar, co-owner of Gulf States. “Harish and I founded Gulf States on the goal of becoming the most trusted partner for new investors. With the additional resources of Alliance, second-generation Sunil Parmar and the whole team will be well-positioned to build on that commitment.”
Alliance Laundry Systems Acquiring 3rd Distributor This Year, April 19
Alliance Laundry Systems to Acquire Washburn Machinery, April 5
Alliance Laundry Systems Acquires PWS Distribution Assets, Feb. 25