Ripon, Wis. – March 7, 2014 — Alliance Laundry Holdings LLC (“Alliance Laundry”) today announced that they completed the acquisition of Primus Laundry Equipment Group (“Primus 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 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 Group markets commercial washer-extractors, tumbler dryers, ironers and feeding and folding equipment under the Primus, Lavamac and Deli brands. With approximately 640 employees, Primus Group net revenues for 2013 were approximately EUR 87 million.
Mike Schoeb, Alliance Laundry’s President and CEO stated, “Primus is a great strategic fit for Alliance. We view their management team, customers and focus on durability and reliability as complementary. This important acquisition provides additional product breath, significantly expands our international footprint and provides unrivaled scale in the commercial laundry industry.”
“This is a very exciting development for the Primus Group which opens up many new opportunities for our company and our distribution partners. We are pleased to join the Alliance family, and we look forward to our continued success as we work together to execute on potential synergies and drive global growth,” said Eddy Coppieters, Primus Group’s CEO.
The Primus Group management team will continue to lead their company in serving the commercial laundry industry.
BMO Capital Markets acted as exclusive financial advisor to Alliance Laundry on the transaction and was the lead left bookrunner for an add-on to Alliance Laundry’s existing first-lien senior secured term loan. Proceeds from the add-on loan, along with available cash, were used to finance the purchase of Primus Group.
