Alliance Laundry Holdings Spins Into the Public Markets With a $4B Valuation

Alliance Laundry Holdings Inc. is preparing to make its Wall Street debut with a New York Stock Exchange listing under the ticker ALH. The company is offering 34.1 million shares of common stock, including 24.4 million new shares from the company and 9.8 million shares from its majority owner, BDT Capital Partners (BDTCP). At the midpoint of $20.50 per share, the deal size totals approximately $700 million and values the business at roughly $4.0 billion on a post-offer basis. A large underwriting syndicate led by BofA Securities, J.P. Morgan, and Morgan Stanley is managing the deal, with shares anticipated to begin trading on October 9th.

The IPO proceeds are primarily aimed at debt reduction and while BDTCP is selling part of its stake, it will still retain around 76% ownership (or ~73% if underwriters exercise their overallotment option), leaving the company designated as a controlled company under NYSE rules.

Alliance Laundry, founded in 1908 in Ripon, Wisconsin, has grown into the world’s largest designer and manufacturer of commercial laundry systems, serving customers in over 150 countries. Its portfolio includes the well-known brands Speed Queen, UniMac, Huebsch, IPSO, and Primus, with a distribution network of more than 600 independent partners—many of whom have been with the company for over a decade. The company’s products are used across healthcare facilities, hotels, fire stations, laundromats, and even in premium residential applications, where customers are willing to pay a premium for commercial-grade durability.

 The business has built a reputation for durability, reliability, and premium pricing, allowing it to dominate market share—holding about 40% of the North American commercial laundry market. Its scale and installed base of over 8 million machines generate steady replacement-driven revenue, complemented by aftermarket sales of parts, consumables, and digital tools. Innovation has also been central to Alliance’s strategy, with recent technologies such as its ProCapture lint filtration system and AI-powered quality control testing underscoring its emphasis on efficiency and long-term reliability. 

Alliance has shown consistent strength, delivering ~9.5% compound annual revenue growth over the past 15 years and maintaining EBITDA margins of around 25%. Its replacement-driven model, diversified end markets, and strong brand portfolio have kept results resilient even through cycles.

Like many industrial players, Alliance faces risks. The company highlights its reliance on distributors and suppliers, exposure to raw material prices, compliance with environmental and energy regulations, and a high debt load—long-term borrowings totaled around $2.0 billion heading into the IPO. The fact that Alliance will remain under the control of BDTCP also means minority shareholders will have limited governance rights.

Looking ahead, Alliance plans to extend its market leadership by accelerating replacement cycles through product innovation, expanding into commercial-grade residential markets, and pushing deeper into emerging geographies such as Brazil and Thailand. The company also sees opportunity in the ongoing evolution of the laundromat industry, where operators are modernizing store formats, adding higher-capacity machines, and leveraging digital tools for greater profitability. Cost efficiencies, supply chain initiatives, and automation are expected to further expand margins over time.

At its IPO midpoint valuation, Alliance is priced at roughly 10.5x EBITDA, in line with comparable industrial equipment and services peers. Investor sentiment appears supportive, with Capital International Investors and Kayne Anderson Rudnick each indicating interest in purchasing up to $100 million of shares in the offering. For investors, Alliance represents a market-leading industrial franchise with steady, replacement-driven revenues, durable margins, and a clear path to deleveraging—positioning it as a compelling long-term story as it spins onto the public markets.