Alliance Laundry Systems priced a 22.55 million share offering at $23.50 per share, according to a regulatory filing. The sale is conducted by BDT Capital Partners and affiliated investment funds, an affiliate of BDT & MSD Partners.
The company itself will not sell shares in the offering and will not receive proceeds from the sale. Underwriters, led by BofA Securities and J.P. Morgan, have a 30-day option to purchase up to an additional 3.38 million shares. The offering follows a Securities and Exchange Commission declaration of effectiveness for the registration statement on Monday.
Separately, Alliance Laundry agreed to repurchase 3.30 million shares from the underwriters at the same $23.50 price per share. These repurchased shares will be retired and removed from the company’s outstanding share count. Underwriting fees will not apply to the repurchased shares.
Alliance Laundry, headquartered in Ripon, Wisconsin, operates commercial laundry equipment brands including Speed Queen, UniMac, Huebsch, Primus, and IPSO. The company serves approximately 150 countries with a workforce of more than 4,000 employees. The offering and repurchase are structured without direct participation from Alliance Laundry in the primary sale.
