Alliance Laundry Holdings, LLC has announced that it has completed a new $400 million asset-backed finance facility supporting its business operations in North America and select European markets.
“Financing is a key component of maintaining and growing our leading market share, specifically within our vended laundry segment in North America,” said Mike Schoeb, Alliance Laundry president and CEO. “This new facility will allow us to expand those services to the European market.”
Alliance Laundry is an indirect subsidiary of ALH Holding Inc., a portfolio company of the Ontario Teachers’ Pension Plan managed by its private investment arm, Teachers’ Private Capital.
This is the sixth issuance completed by Alliance Laundry since 1998. This facility is backed by a pool of equipment loans, leases and trade receivables for the purchase of commercial laundry equipment. Alliance Laundry has originated more than $2 billion in equipment loans since the inception of its captive finance business supporting its distributor and customer network.
“We have a long track record of success financing within the commercial laundry industry,” explained Bruce Rounds, Alliance Laundry CFO. “This starts with building the highest quality product in the market, which gives us the confidence to invest in the financing business. When you look at market-leading manufacturers with distribution networks, most have captive finance businesses supporting their equipment sales. Alliance Laundry, as a market leader, continues to utilize this approach as part of our Customer One strategy. We look forward to expanding our capability to support our distributors and customers with this new facility.”
