Alliance Laundry shares jump in NYSE debut

Investing.com -- Alliance Laundry’s shares opened for trading 11.4% in their New York Stock Exchange debut on Thursday, valuing the commercial laundry systems maker at $4.83 billion.

The Ripon, Wisconsin-based company priced its upsized initial public offering at $22 per share, the top end of its marketed range of $19 to $22. The IPO raised $826.3 million through the sale of 34.1 million shares by the company and its backer, BDT Capital Partners. At the IPO price, Alliance Laundry was valued at $4.34 billion.

Founded in 1908, Alliance Laundry manufactures commercial washing machines, dryers and ironers with load capacities of up to 400 pounds. The company sells its products under five brands: Speed Queen, UniMac, Huebsch, Primus and IPSO.

BofA Securities and J.P. Morgan served as the lead underwriters for the offering.

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