RIPON, Wis. — Alliance Laundry Systems LLC, manufacturer of Speed Queen, Huebsch and UniMac equipment, has signed purchase agreements to acquire substantially all of Laundry Systems Group NV's (LSG) Commercial Laundry Division, which includes the IPSO and Cissell brands, for 59 million Euros (slightly more than $75 million).
LSG's Commercial Laundry Division (CLD) is headquartered in Wevelgem, Belgium, and markets commercial washer-extractors, tumbler dryers and ironers worldwide under the IPSO and Cissell brand names. CLD has manufacturing facilities and sales offices in the United States and Belgium.
Completion of the transaction, which is expected to close in the third quarter of 2006, is subject to further due diligence and customary closing conditions, Alliance reports.
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