Alliance Laundry Posts Double-Digit Revenue Growth Ahead of Planned NYSE Listing
Alliance Laundry Systems, one of North America’s largest commercial laundry equipment makers, disclosed on Friday that its revenue surged nearly 15% in the first half of 2025 as it formally filed for a U.S. initial public offering. The 117-year-old company, which manufactures heavy-duty washers and dryers for hotels, hospitals, laundromats and other institutional customers, is aiming to list on the New York Stock Exchange under the ticker “ALH,” according to its registration statement.
The move represents a reversal of course for Alliance’s owner, merchant bank BDT & MSD Partners. As recently as last year, the firm had been exploring a full or partial sale of Alliance that could have valued the company at about $5 billion, including debt, Reuters previously reported. Instead, it is now seeking to tap the resurgent public-equity markets to raise new capital and give investors a liquid exit.
The IPO filing comes as U.S. public offerings enjoy their most active stretch in more than two years. Equity markets have pushed to record highs in recent weeks and investors have poured into high-profile listings spanning crypto firms, space-technology ventures, consumer brands and fintech startups. Bankers say those successful debuts have emboldened executives who put plans on hold earlier this year amid tariff-related volatility to revive their listing schedules.
Alliance did caution in its filing, however, that global trade frictions remain a headwind. It said the cost of key raw materials, particularly steel and aluminum, has swung sharply in recent years because of tariffs and supply disruptions — pressures that can squeeze margins in a manufacturing-heavy business like laundry equipment.
Founded in 1908 and based in Ripon, Wisconsin, Alliance Laundry has expanded through a series of tuck-in acquisitions and now claims roughly 40% of the North American commercial laundry market. Its brands include Speed Queen, UniMac and Huebsch. In the first six months of 2025, the company’s revenue climbed to $836.8 million from $729 million in the same period a year earlier, although net income dropped to $48.3 million from $67.6 million, reflecting higher costs and investments ahead of the planned IPO.
BofA Securities and J.P. Morgan are leading the underwriting syndicate for the offering, which, if successful, would cement Alliance’s return to public ownership and provide fresh funding for expansion in a market it already dominates.
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