Whirlpool Corp. has entered into an agreement to acquire American Dryer Corp., which manufactures and markets coin-operated, on-premise, industrial and specialty laundry equipment.
The planned acquisition gives Whirlpool’s commercial laundry business a platform to reach new markets and channels, while building on a strong foundation of industry-leading innovation, quality and service, according to the Michigan-based manufacturer.
“Acquiring ADC strengthens our commitment to the commercial laundry industry and is aligned to our objectives of driving growth in adjacent businesses,” said Jeff M. Fettig, Whirlpool Corp. chairman and chief executive officer. “We believe this acquisition nicely complements our leadership position in the overall laundry category.”
“Our Maytag and Whirlpool brands have a strong heritage in commercial laundry,” said Brett Dibkey, vice president, North American Integrated Business Units. “The addition of ADC is yet another step toward our goal of building the industry’s best, most reliable full line of commercial laundry equipment.”
Whirlpool expects to close on the purchase of ADC in early July with integration activities happening throughout the balance of 2015.
“The acquisition of ADC by Whirlpool is an important milestone in the evolution of innovative global commercial laundry equipment,” said Chris FitzGerald, CEO of ADC. “Whirlpool and ADC are each leaders in global commercial laundry innovation and development. Together they will be able to offer an impressive array of commercial laundry equipment, as well as significant research and development capabilities. I firmly believe this combination will be good for both Whirlpool and ADC, and just as importantly, it will be good for ADC’s customer base due to the expanded product portfolio as well as the
combined strength of the two companies in manufacturing and R&D.”
ADC, headquartered in Fall River, Mass., is home to approximately 230 employees, a 300,000-square-foot manufacturing facility, and a state-of-the-art engineering and design center. The ADC manufacturing facility will become a valuable part of the Whirlpool manufacturing portfolio.
Terms of the planned transaction will not be disclosed.
