Alliance Laundry Holdings LLC (“Alliance Laundry”) today announced the signing of an agreement to acquire Primus Laundry Equipment Group.
Alliance Laundry is an indirect subsidiary of ALH Holding Inc., a portfolio company of the Ontario Teachers’ Pension Plan managed by its private equity investment division, Teachers’ Private Capital.
Primus Laundry Equipment Group is headquartered in Gullegem, Belgium with production facilities in Pribor, Czech Republic and Guangzhou, China; and sales offices in France (Lyon), the UAE (Dubai), Spain (Barcelona) and Hong Kong. Primus Laundry Equipment Group markets commercial washer-extractors, tumble dryers, ironers and feeding and folding equipment under the Primus, Lavamac and Deli brands. Primus Laundry Equipment Group has annual revenues of approximately EUR 87 million.
Mike Schoeb, Alliance Laundry’s President and CEO, stated, “We are very pleased to have the Primus organization join our Company. We view their management team, product breadth, distribution, quality focus and commitment to reliability as complementary to our global reach.”
Eddy Coppieters, Primus Laundry Equipment Group’s CEO, stated, “We are excited to join the world leader in commercial laundry. Joining the Alliance team at this point is good for our employees, our customers and the industry.”
Completion of the transaction, which is expected to close prior to the end of March, is subject to customary closing conditions.