BDT to Acquire Majority Stake in Alliance from OTPP
August 10, 2015
BDT Capital Partners has agreed to acquire a majority interest in Alliance Laundry Systems from Ontario Teachers' Pension Plan. Acquired by OTPP in early 2005, Alliance is a designer, manufacturer and marketer of commercial laundry equipment used in laundromats, multi-housing laundries and on-premise laundries. Under OTPP's 10-year holding period, the company expanded outside of North America into new markets in Europe, the Middle East, Africa and Latin America. Bank of America and BMO Capital Markets acted as joint lead arrangers for a senior secured credit facility in connection with the deal, expected to close this quarter.