Alliance Laundry Holdings has completed an agreement for US$400million asset-backed financing that will support its business operations in North America and selected European markets.

Announcing the completion on 29 June, Alliance Laundry president and CEO Mike Schoeb said that financing was a key part of maintaining and increasing the company’s market leadership within the North American coin laundry market. This new agreement would allow Alliance to extend these services to the European market.

Alliance Laundry is an indirect subsidiary of ALH Holding Inc, a portfolio company of the Ontario Teachers’ Pension Plan managed by its private investment arm, Teachers’ Private Capital.

This is the sixth issue completed by Alliance Laundry since 1998. It is backed by a pool of equipment loans, leases and trade receivables for the purchase of commercial laundry equipment.

Alliance Laundry has originated more than $2 billion in equipment loans since the start of its captive finance business, which supports the company’s extensive distributor and customer network.

AGREEMENT: Alliance Laundry president and CEO Mike Schoeb