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Alliance Laundry Systems to Acquire Cissell, IPSO Brands

Bruce Beggs |

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.
 

About the author

Bruce Beggs

American Trade Magazines LLC

Editorial Director, American Trade Magazines LLC

Bruce Beggs is editorial director of American Trade Magazines LLC, including American Coin-Op, American Drycleaner and American Laundry News. He was the editor of American Laundry News from November 1999 to May 2011. Beggs has worked as a newspaper reporter/editor and magazine editor since graduating from Kansas State University in 1986 with a bachelor’s degree in journalism and mass communications. He and his wife, Sandy, have two children.

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