RIPON, Wis. — Commercial laundry equipment manufacturer Alliance Laundry Systems, based here, reports it is acquiring the laundry division assets of distributor Gulf States Laundry Machinery Co.
Terms of the deal were not disclosed. Alliance expects to close on the purchase in the third quarter of this year.
Gulf States Laundry Machinery Co. is a family-owned business founded by Harish and Pravin Parmar in Houston in 1984, later adding an Atlanta office in 1987 managed by Ben Prema.
“Gulf States embodies all the attributes we look for in a quality partner—sales excellence, strong leadership and exceptional business ethics,” says Rick Pyle, president and chief commercial officer of Alliance Laundry Systems. “We expect great growth opportunities and exceptional synergies in joining with Gulf States.”
This is Alliance’s fourth distributor asset acquisition of 2021. The others were D&M Equipment Co., Washburn Machinery Inc. and PWS Inc.
While Alliance will acquire Gulf State’s laundry division assets, Gulf State’s dry-cleaning business is not included in the acquisition.
Pyle added that he couldn’t be more thrilled by the performance of Alliance’s direct distribution partners, which demonstrates the effectiveness of Alliance’s strategy of selecting great companies in growing markets.
“We are delighted to further our already strong relationship with Alliance Laundry Systems through this new chapter,” says Pravin Parmar, co-owner of Gulf States.
“Harish and I founded Gulf States on the goal of becoming the most trusted partner for new investors. With the additional resources of Alliance, second-generation Sunil Parmar and the whole team will be well-positioned to build on that commitment.”
Alliance Laundry Systems to Purchase D&M Equipment Co., April 26, 2021
Alliance Laundry Systems to Acquire Washburn Machinery Inc., April 14, 2021
Alliance Closes on Purchase of California-based PWS Inc., March 8, 2021