Commercial laundry systems manufacturer Alliance Laundry is seeking a valuation as high as $4.34 billion in its upcoming U.S. IPO, according to its latest filing. Backed by BDT & MSD Partners, the company aims to raise close to $751.2 million by issuing 34.1 million shares, with a proposed pricing range between $19 and $22 per share.
This move arrives against the backdrop of a rejuvenated IPO market, as October is shaping up to be a busy month for new listings. Companies including Andersen Group, BitGo, and Navan have already entered the pipeline, signaling that strength in equity markets is reviving issuer confidence.
Founded more than a century ago in 1908 and headquartered in Ripon, Wisconsin, Alliance Laundry manufactures heavy-duty washers, dryers, and related equipment under brands such as Speed Queen, UniMac, Huebsch, Primus, and IPSO. Historically private, the company’s largest ownership stake transferred in 2015, when the Ontario Teachers’ Pension Plan sold to BDT Capital Partners.
Despite opening up to public investors, the backers intend to preserve control: post-IPO, they expect to retain about 76% ownership. Institutional investors including Capital International and Kayne Anderson Rudnick have shown interest in acquiring up to $100 million of the offering. The stock will debut on the New York Stock Exchange under the ticker “ALH,” with BofA Securities and J.P. Morgan leading the underwriting.
Observers view this IPO as emblematic of a broader capital markets resurgence. The targeted valuation reflects confidence in stable industrial demand and the resilient cash flows of infrastructure companies. As investors monitor the offering’s reception, this could be among the standout IPOs of the quarter.
From a capital markets perspective, Alliance Laundry’s IPO comes at a favorable moment. Equity valuations are robust, interest rate expectations are relatively benign, and there is renewed enthusiasm for new listings. Its valuation goal of $4.3 billion suggests strong confidence from underwriters and backers in both demand and fundamentals.
That said, execution risk is not negligible. Market sentiment can shift quickly, and the pricing must strike a balance between attracting investors and preserving valuation. The fact that the backers retain significant ownership may reassure long-term confidence but might limit upside for new shareholders. Watching subscription levels, aftermarket performance, and how the company delivers on its growth projections will be key in judging whether this IPO is a success or a cautionary tale.
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