About Alliance LaundryAlliance Laundry makes the world cleaner as a provider of the highest quality commercial laundry systems. Our laundry solutions are available under five respected brands, sold and supported by a global network of select distributors. We serve approximately 150 countries with a team of more than 4,000 employees. Our brands include Speed Queen®, UniMac®, Huebsch®, Primus® and IPSO®. Together, they present a full line of commercial washing machines, dryers, and ironers (with load capaciti ...

Core Insights - Despite the U.S. government shutdown, the IPO market remains active with 6 companies completing IPOs and 2 SPACs listing, alongside 13 IPOs and 5 SPACs filing initial applications [1] IPO Companies Summary - **Alliance Laundry Holdings (ALH)**: A leading manufacturer of commercial washing machines with a 40% market share in North America, raised $826 million at a valuation of $4.485 billion, closing up 14% this week [1] - **Phoenix Education Partners (PXED)**: Provides post-secondary education services, including the University of Phoenix, raised $136 million at a valuation of $1.319 billion, closing up 13% this week [1] - **PomDoctor (POM)**: An online platform in China for chronic disease management, raised $20 million at a valuation of $474 million, closing up 9% this week [1] - **One and One Green Tech (YDDL)**: A waste recycling company in the Philippines, raised $10 million at a valuation of $270 million, closing up 31% this week [1] - **Leifras (LFS)**: Offers sports classes for children in Japan, raised $5 million at a valuation of $10.5 million, closing down 5% this week [1] - **Turn Therapeutics (TTRX)**: Focuses on wound and dermatology products, utilized a direct listing method, closing down 26% from an opening price of $10 [1] SPAC Companies Summary - **GigCapital8 (GIWWU)**: Raised $220 million [2] - **Lake Superior Acquisition (LKSPU)**: Raised $100 million, targeting sectors such as energy storage, social media, and consumer staples [2]

Core Insights - Alliance Laundry has demonstrated consistent cash generation from operations, with net cash from operating activities increasing from $105.1 million in 2022 to $145.5 million in 2024, and $50.7 million in the first half of 2025 compared to $36.6 million in the same period last year [1][2] - The company faced a cash balance of $222.6 million against commercial obligations of $587.7 million due within a year, highlighting the necessity of the IPO for maintaining solvency [1] - The IPO was priced between $19-$22 per share, ultimately raising $826.3 million, exceeding expectations, with plans to use proceeds primarily for debt repayment [5] Financial Performance - In the first half of 2025, Alliance Laundry reported revenues of $836.8 million, reflecting a year-over-year growth of 14.8%, while net profit decreased to $48.3 million from $67.6 million [2] - From 2022 to 2024, revenues grew by 9.6% to $1.51 billion, but net profits declined from $99.7 million in 2022 to $98.3 million in 2024, although operating profits increased by 32.2% to $345.6 million [3] Market Position - Alliance Laundry holds a 40% market share in the US commercial laundry sector, but the market is projected to grow at a CAGR of only 5.2% over the next decade, reaching $8.2 billion [8] - Despite limited growth prospects, the demand for Alliance Laundry's shares indicates investor willingness to pay a premium for a market leader [9] Competitive Advantages - The company benefits from a strong brand image, a wide distributor network, and a commitment to high-quality standards, which justify its higher price points [10] - Alliance Laundry's equipment is designed for durability, often lasting 15 to 20 years, catering to the needs of commercial operators [11] Expansion Plans - Future expansion targets include larger chains of commercial laundries and premium home setups, alongside a push for digital tools to generate ongoing revenue [13] - The company is expanding internationally, with recent entries into Brazil, China, and Spain, and acquired Primus to enhance its global reach [14] - A significant investment of over $4.5 million was made in a Thai factory to increase production capacity for the Asia-Pacific market, with plans to launch 300 new laundromat sites [15] Innovation Focus - Alliance Laundry is prioritizing innovation, including the integration of cashless payment systems to align with changing consumer habits [16] Investment Opportunity - Alliance Laundry represents a unique investment opportunity as a century-old market leader, despite limited growth in the US market, with ongoing efforts to enhance its global presence [17]

Group 1 - The article highlights the trend of investment banks launching new tech companies in response to the bull market for artificial intelligence and cryptocurrency [1] - Alliance Laundry Systems, known for its Speed Queen brand, had a successful IPO, with shares rising 13% to just under $25 [2] - The company priced its IPO at $22, raising $826 million and achieving a valuation of approximately $5 billion [2]

Core Insights - Alliance Laundry's shares increased by 11.4% during their debut in New York, leading to a market valuation of $4.83 billion [1] Company Summary - Alliance Laundry specializes in manufacturing commercial laundry systems [1]

Core Points - Alliance Laundry Holdings Inc. has announced the pricing of its upsized initial public offering (IPO) of 37,560,974 shares at a public offering price of $22.00 per share [1] - The offering includes 24,390,243 shares sold by Alliance Laundry and 13,170,731 shares sold by a selling stockholder, with Alliance Laundry not receiving proceeds from the latter [1] - The shares are expected to begin trading on the NYSE under the ticker symbol "ALH" on October 9, 2025, with the offering expected to close on October 10, 2025 [2] Offering Details - The selling stockholder has granted underwriters a 30-day option to purchase an additional 5,634,146 shares at the initial public offering price [2] - BofA Securities and J.P. Morgan are acting as joint lead book-running managers, with Morgan Stanley as the book-running manager [3] - Additional bookrunners include Baird, BDT & MSD Partners, BMO Capital Markets, Citigroup, Goldman Sachs & Co. LLC, and UBS Investment Bank [3] Company Overview - Alliance Laundry is a global leader in commercial laundry equipment, providing high-quality laundry systems under five brands: Speed Queen®, UniMac®, Huebsch®, Primus®, and IPSO® [6] - The company serves approximately 150 countries with a workforce of over 4,000 employees [6] - Alliance Laundry offers a full line of commercial washing machines, dryers, and ironers, with load capacities ranging from 20 to 400 lb. (9 to 180 kg) [6]

Core Viewpoint - The ongoing government shutdown is expected to impact the IPO market, with companies potentially delaying their public offerings until the situation stabilizes. Group 1: IPO Market Dynamics - Approximately a dozen companies are currently on file to go public, with notable interest in Alliance (a laundry equipment company) and University of Phoenix (a secondary education company) [2] - Both Alliance and University of Phoenix initiated their road shows despite the looming government shutdown, betting on a short duration for the shutdown [3] - Fermy, an energy company backed by Rick Perry, successfully went public just before the shutdown, indicating that some companies are still able to navigate the situation [3][4] Group 2: Impact of the Shutdown - The effectiveness statement for IPOs needed to be secured before the SEC's closure, which could lead to a backlog if the shutdown extends [5] - Companies may not feel pressured to go public in Q4 if the shutdown lasts longer, as historically, January and February are also favorable months for IPOs [6][7] - If the shutdown persists for a week or two, many companies may choose to postpone their plans until the new year [8] Group 3: SEC Operations During Shutdown - The SEC continues to accept filings for already traded companies, including quarterly reports, but is not processing new IPO approvals during the shutdown [9][10] - The prioritization of document reviews during the upcoming earnings season could further delay the IPO pipeline if the SEC remains unable to approve new offerings [9][10]

Core Insights - EVI Industries is the only publicly traded company in the U.S. that specializes exclusively in commercial laundry equipment and services, indicating a unique market position that may soon face competition from Alliance Laundry Holdings [1] Company Overview - EVI Industries focuses on the commercial laundry sector, which is a niche market that may be overlooked by many investors, particularly in the small- to mid-cap range [1] Market Position - The unique positioning of EVI Industries in the commercial laundry equipment and services market may not last long due to potential competition from larger entities like Alliance Laundry Holdings [1]

Company Overview - Alliance Laundry's revenue increased by nearly 15% in the first half of 2025, reaching $836.8 million, up from $729 million a year ago [1][4] - The company has a significant market presence, claiming approximately 40% of the commercial laundry market in North America [3] Financial Performance - Despite the revenue growth, Alliance's profit decreased to $48.3 million from $67.6 million in the same period last year [4] - The company is planning to list on the New York Stock Exchange under the symbol "ALH" [4] Market Context - The IPO market is experiencing a resurgence, with U.S. IPOs gaining momentum as investors overlook tariff uncertainties and equity markets reach record highs [2] - The listing plan represents a strategic shift for Alliance's owner, BDT & MSD Partners, who previously considered selling the company for a valuation of $5 billion, including debt [2] Challenges - Alliance has noted challenges from trade barriers, particularly significant price fluctuations in raw materials like steel and aluminum [3]