Alliance Laundry, leading commercial washer and dryer producer, to debut on the NYSE

Preliminary trading in shares of Alliance Laundry Holdings, considered to be the world’s leading manufacturer of commercial laundry washers and dryers, has begun on the Freedom Finance trading system. Later today, October 9, the stock will debut on the New York Stock Exchange under the ticker ALH.

Alliance Laundry Holdings, a manufacturer of commercial washers and dryers for laundromats, and a selling shareholder have raised a total of $826.3 million in an IPO. A total of 37.56 million shares were placed at $22 per share, the upper end of the marketed range of $19-22 per share. This values Alliance Laundry at approximately $4.34 billion, Reuters reports.

Of the total, the company itself sold 24.39 million shares, while the shareholder sold 13.17 million shares. The offer size was increased at the last minute. Alliance Laundry will not receive proceeds from the sale by the shareholder. According to company filings, the funds raised will be used to repay part of a $2.1 billion term loan facility.

BofA Securities and JPMorgan acted as lead bookrunners, with Morgan Stanley, Citigroup, Goldman Sachs, UBS, and several other banks participating as underwriters.

The IPO represents a reversal of strategy for Alliance’s owner, investment firm BDT & MSD Partners, Reuters writes. The firm had considered selling the 117-year-old commercial laundry equipment maker as recently as last year, valuing it at about $5 billion including debt.

Founded in 1908 and headquartered in Ripon, Wisconsin, Alliance Laundry manufactures commercial equipment for laundromats, college dormitories, and residential use.

According to the prospectus filed with the SEC, the company has roughly 40% of the North American commercial laundry equipment market and maintains a foothold in international markets.

Alliance operates six plants worldwide – three in the U.S. and one each in the Czech Republic, Thailand, and China – and sells its products through a network of about 600 independent distributors, Bloomberg reported.

For the first half of 2025, the company reported revenue of $837 million and net income of $48 million. According to Seeking Alpha, Alliance Laundry’s revenue has grown at a CAGR of 9.5% since 2010, while its adjusted EBITDA margin remains around 25%.

In its filing, the company cited the threat of trade barriers, noting that prices of raw materials such as steel and aluminum have been subject to significant volatility in recent years.

Freedom Holding analyst Alem Bektemirov says the main risks for the business include competition and a potential loss of customers or deterioration in their financial power. Based on the industry-average EV/S multiple of 3.22, he estimates the fair value of Alliance Laundry shares at $17.20 per share – about 22% below the IPO price.

Donovan Jones, an analyst at IPO Edge and Seeking Alpha, writes that Alliance Laundry has demonstrated solid revenue growth, expanding gross margins, and improved operating profits, though operating cash flow has recently declined. He expects strong demand on the debut. Among key risks, Jones highlighted the company’s North American concentration (74% of revenue), trade policy, supply chain disruptions, regulatory shifts, and interest-rate changes.

"The recent broadening out of the profile of U.S. IPO deal flow to include PE-backed firms should help to steer investors towards the deal," Josef Schuster, CEO of IPOX, was quoted by Reuters as saying.

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Freedom Broker clients will be able to trade Alliance Laundry shares before the start of the main U.S. session today. Premarket trading will open 2-3 hours early, at 15:30-16:30 Astana time. Investors can participate by selecting the ticker ALH on the Freedom platform.

The AI translation of this story was reviewed by a human editor.