Alliance Laundry Systems signed an agreement to acquire Laundry System Group NV’s Commercial Laundry Division (CLD) for approximately 59 million euros (approx. U.S. $75.7 million).
The CLD is headquartered in Wevelgem, Belgium, and markets commercial washer-extractors, tumble dryers and ironers worldwide under the Ipso and Cissell brand names. CLD has manufacturing facilities and sales offices in the U.S. and Belgium.
"The addition of the Ipso and Cissell brands and CLD’s soft-mount washer-extractor product line significantly strengthens our ability to participate in the global laundry marketplace," said Alliance Laundry President and CEO Tom L’Esperance.
The transaction is subject to approvals and expected to close in the third quarter of 2006
About Alliance Laundry and Laundry Systems Group
Alliance Laundry Systems LLC (Ripon, Wisconsin, U.S.) produces commercial and consumer laundry appliances under Speed Queen(R), UniMac(R) and Huebsch(R) brand names.
Laundry Systems Group NV Laundry Systems Group produces appliances for coin laundries, commercial laundries, textile rental companies, and on-premise laundries such as those in hotels, hospitals and cruise ships. LSG has operations in 11 countries and serves customers in more than 80 countries.
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