Alliance Laundry Systems, backed by BDT & MSD Partners, is targeting a valuation of up to $4.34bn in its planned New York IPO, as private equity sponsors increasingly look to public markets for exits, according to a report by Reuters.
The Wisconsin-based commercial laundry equipment maker and its owner are aiming to raise as much as $751m by selling 34.1m shares at $19–$22 each. The flotation would leave BDT Capital Partners, part of BDT & MSD, with a roughly 76% stake in the business.
Alliance Laundry’s IPO comes amid a resurgence of PE-backed listings in the US, with Blackstone portfolio company Legence among the recent debuts. The deal has attracted interest from cornerstone investors including Capital International and Kayne Anderson Rudnick, who may take up to $100m of stock.
BDT first acquired control of Alliance in 2015 from Ontario Teachers’ Pension Plan, later exploring a sale valuing the business near $5bn including debt. The company manufactures commercial washing machines, dryers, and ironers under brands such as Speed Queen, UniMac, and Huebsch.
BofA Securities and JP Morgan are leading the offering, with trading set to begin on the NYSE under the ticker “ALH.”
