After a relatively weak 2024, the US IPO market has bounced back with increased activity in 2025, with technology and healthcare companies dominating the listings. While the trend is positive, investor sentiment remains cautious amid economic slowdown and tariff-related uncertainties.
$4.3 Bln Valuation
Alliance Laundry Holdings Inc. is targeting a valuation of around $4.3 billion in its planned US IPO. The company intends to offer around 34.15 million shares in the initial public offering, at an estimated price of $19-22 per share. Of that, around 24.39 million shares are offered by the company, and the remaining 9.76 million by its principal stockholder BDT Capital Partners, the private equity and investment platform of merchant bank BDT & MSD Partners.
Post IPO, the stock is expected to list on the New York Stock Exchange under the symbol ALH. The group of underwriters managing the offering is led by BofA Securities and JPMorgan. The stock sale is expected to generate around $700 million, based on the mid-point of the price range. The management intends to use net proceeds from the offering mainly to repay debt, and for working capital and general corporate purposes.
The Business
Founded in 1908 and headquartered in Ripon, Wisconsin, Alliance Laundry is a leading manufacturer of commercial laundry equipment — including washers, dryers, and ironers — under brands like Speed Queen, Huebsch, IPSO, and UniMac.
It is estimated that the company holds nearly 40% of the commercial laundry market in North America, and it is increasing its presence in key markets around the world. In 2024, the core North America segment accounted for 74% of total revenues, while the international segment represented the remaining 26%.
Financials
For the six months ended June 30, 2025, Alliance reported net revenues of $836.8 million, compared to $729 million in the corresponding period a year earlier. Net income declined to $48.3 million or $0.28 per share in the first half from $67.6 million or $0.39 per share in the prior-year period. The weak bottom-line performance mainly reflects a double-digit increase in operating expenses.
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