The IPO Buzz: Alliance Laundry Holdings Upsizes IPO & Prices it at $22 – Top of Range

Alliance Laundry Holdings (ALH) upsized its IPO at pricing and priced the deal at $22.00 – the top of its $19.00-to-$22.00 range – to raise $826.3 million on Wednesday night, Oct. 8, 2025. The number of shares was increased at pricing to 37.6 million shares – up from 34.2 million shares in the prospectus. At pricing, Alliance Laundry Holdings had a market cap of about $4.41 billion.

Shares of Alliance Laundry Holdings (ALH) are expected to start trading tomorrow – Thursday, Oct. 9, 2025 – on the New York Stock Exchange.

The company is best known for its Speed Queen brand of commercial washers and dryers.

Alliance Laundry Holdings plans to use the IPO’s proceeds to pay off some of its debt. Its total debt outstanding was about $2.08 billion, as of June 30, 2025, according to the prospectus.

BofA Securities, J.P. Morgan and Morgan Stanley led the joint book-runners’ team. The book-runners included Baird, BDT & MSD, BMO Capital Markets, Citigroup, Goldman Sachs and UBS Investment Bank.

Capital International Investors and Kayne Anderson Rudnick Investment Management, LLC, had each indicated an interest in buying up to $100 million of stock in the IPO, according to the prospectus.

In the IPO, Alliance Laundry Holdings sold 24.4 million shares and BDT Capital Partners, the principal stockholder, sold 13.2 million shares. BDT Capital Partners increased its portion of the deal at pricing to 13.2 million – up from 9.8 million in the prospectus.

BDT Capital Partners is a private equity firm and an affiliate of BDT & MSD Partners, a merchant bank on the IPO’s book-running team. The conflict of interest is disclosed in the prospectus.

The private equity connection goes back to Aug. 31, 2015, when BDT Capital Partners – along with members of the company’s management team and certain institutional investors – acquired Alliance Laundry Holdings.

Alliance Laundry Holdings, based in Ripon, Wisconsin, is the world’s largest designer and manufacturer of commercial laundry systems, according to the prospectus. Alliance Laundry estimates that it holds about 40 percent of the commercial laundry market in North America.

Laundromats, hospitals and other healthcare facilities, hotels, fire stations and other communal laundry facilities make up most of Alliance Laundry’s global customer base

Alliance Laundry Holdings traces its roots back to 1908 when it introduced a hand-operated washer to the marketplace, the prospectus said. The company introduced stainless steel wash tubs in 1938 under the Speed Queen brand. In 1952, the company brought out automatic washers and dryers.

In 2023, Alliance Laundry unveiled its “pioneering ProCapture lint capture technology,” according to the prospectus.

The company is profitable: Alliance Laundry Holdings earned net income of $79.01 million on revenues of $1.62 billion for the 12 months that ended June 30, 2025