11/16/2023 0 Comments Alliance laundry systems hiringAdditional terms of the deal were not disclosed.Īlliance Laundry Systems is the leading designer, manufacturer and marketer of commercial laundry equipment used in laundromats, multi-housing laundries and on-premise laundries. Completion of the transaction is expected in the third quarter of 2015. Debevoise & Plimpton LLP acted as legal advisor to Alliance and Cravath, Swaine & Moore LLP acted as legal advisor to BDT. acted as joint lead arrangers for a senior secured credit facility. LLC, BMO Capital Markets Corp., and Bank of America, N.A. “The Company has delivered exceptionally strong revenue and earnings growth since TPC acquired the Company and has been a terrific investment for more than 10 years,” said Jane Rowe, Senior Vice-President of TPC. During their ownership, Alliance expanded operations outside North America, to Europe, the Middle East, Africa and Latin America and successfully entered new segments and served new end markets. Teachers’ Private Capital (“TPC”), the private equity group of Teachers’, acquired Alliance in January 2005. Our long-term capital will provide a solid foundation and long runway to continue to pursue exciting growth opportunities around the world.” “Alliance has built its industry-leading position by investing in its people, innovating across its product portfolio and delivering unmatched customer service. “We are thrilled to partner alongside the entire Alliance team,” said Chip Dunn, Managing Director at BDT. BDT’s long investment horizon and their strategic approach to partnering positions Alliance well for the future.” 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. Mike Schoeb, Alliance’s President and Chief Executive Officer, commented, “Our management team will hold a significant ownership stake following the transaction and is excited by the new partnership with BDT. Teachers’ is expected to retain a minority interest in the Company following the completion of the transaction. Alliance Laundry Systems (“the Company” or “Alliance”), the leading, global designer and manufacturer of commercial laundry equipment, announced today that BDT Capital Partners, LLC, (“BDT”) through its investment funds, has agreed to acquire a majority interest in the Company from Ontario Teachers’ Pension Plan (“Teachers’”).
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