RIPON, Wis. — Alliance Laundry Holdings LLC, parent company of Alliance Laundry Systems, saw its net revenues for first-quarter 2012 increase to $117.2 million from $104.3 million (12.4%) for the same period in 2011, the company reports. Net income was $5.5 million compared to $4.8 million in 2011.
“The first quarter was a strong start to the year as we benefited from a robust top-line growth of 12.4% despite a difficult selling environment in both Europe and the Middle East and Africa,” says CEO Michael D. Schoeb. “The core tenets of our strategy—superior products, exceptional value-added services, continued improvements in operational efficiencies and capitalizing on global growth opportunities—continue to differentiate us in the marketplace and solidify our position as a leader in the commercial laundry equipment market.”
In April, Alliance Laundry Systems LLC entered into a new credit agreement with certain commercial banks and other lenders that provides for borrowings under a new $75 million revolving credit facility and a new $275 million term loan facility. This improves the company’s “financial position and provides the flexibility to invest in additional capacity and innovative new products, which positions the business for long-term growth,” Schoeb says.
Alliance Laundry Systems designs, manufactures and markets commercial laundry equipment used in Laundromats, multi-housing laundries and on-premise laundries under the Speed Queen, UniMac, Huebsch, IPSO and Cissell brands.