RIPON, Wis. — Alliance Laundry Holdings LLC, the parent company of Alliance Laundry Systems, recently completed a new $400 million asset-backed finance facility to support its business operations in North America and select European markets.
Mike Schoeb, Alliance Laundry’s president and CEO, says, “Financing is a key component of maintaining and growing our leading market share, specifically within our vended laundry segment in North America. This new facility will allow us to expand those services to the European market.”
This is the sixth issuance completed by Alliance Laundry since 1998. The company says the new facility is backed by a pool of equipment loans, leases and trade receivables for the purchase of commercial laundry equipment.
Alliance Laundry says it 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,” says Bruce Rounds, Alliance Laundry CFO.
Have a question or comment? E-mail our editor Matt Poe at [email protected].