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Its Official: Alliance Buys IPSO, Cissell from LSG

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.
 

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