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Its Official: Alliance Buys IPSO, Cissell from LSG

Bruce Beggs |

RIPON, Wis. — Alliance Laundry Systems has finalized its purchase of substantially all of Laundry Systems Group NV's (LSG) Commercial Laundry Division for approximately 59 million Euros (approximately $74 million).
The division markets commercial washer-extractors, tumbler dryers and flatwork ironers worldwide under the IPSO and Cissell brand names, and has manufacturing facilities and sales offices in the United States and Belgium.
"Alliance's management is enthusiastic about the opportunities this transaction presents as we work together to execute our company's growth objectives," says Tom L'Esperance, Alliance Laundry's president/CEO.
LSG says its Board of Directors and management will now focus on adapting its business to the heavy-duty product line alone and deciding its future financial structure.
 

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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