RIPON, Wis. — Private equity firm BDT Capital Partners LLC has agreed to acquire a majority interest in Alliance Laundry Systems from Ontario Teachers’ Pension Plan, according to Alliance. Completion of the deal is expected in the third quarter; additional terms were not disclosed.
“Our management team will hold a significant ownership stake following the transaction and is excited by the new partnership with BDT,” says Mike Schoeb, Alliance’s president and CEO. “This partnership will allow us to accelerate the execution of our proven growth strategy, continue to invest in new and innovative products of exceptional quality and strengthen the value we bring to our premier distribution partners. BDT’s long investment horizon and their strategic approach to partnering positions Alliance well for the future.”
“Our long-term capital will provide a solid foundation and long runway to continue to pursue exciting growth opportunities around the world,” says Chip Dunn, managing director at BDT.
Alliance Laundry Systems designs, manufactures and markets commercial laundry equipment under the brand names Speed Queen®, UniMac®, Huebsch® and IPSO®, among others.
Teachers’ Private Capital, the private equity group of Ontario Teachers’ Pension Plan, acquired Alliance in January 2005. The group is expected to retain a minority interest in Alliance following the completion of the transaction, according to the company.
Have a question or comment? E-mail our editor Bruce Beggs at [email protected].