Well-established commercial washing machine manufacturer Alliance Laundry (ALH.US) will go public tonight with an IPO pricing of $22 per share.

Alliance Laundry Holdings (ALH.US), a leading manufacturer of commercial washing machines and dryers globally, raised $826 million by issuing 37.6 million shares (representing 35% of the total shares outstanding) at a price of $22 per share, at the upper end of the $19 to $22 price range. BDT Capital Partners sold 3.4 million more shares than expected (an increase of 35%), while the number of shares offered in the IPO remained the same. New investors - Capital International Investors and Kayne Anderson Rudnick - have indicated that they will subscribe to $200 million (24% of the total offering amount) in this IPO. Despite the impact of the U.S. government shutdown on the IPO activity, the SEC stated that Alliance's registration statement was effective prior to the shutdown, which may allow it to proceed with issuing the planned number of initial shares and pricing them within a certain range. Founded in 1908 and headquartered in Ripon, Wisconsin, the company operates six factories globally, with three in its home state and the other three in the Czech Republic, Thailand, and China. The company sells its products worldwide through approximately 600 independent distributors. Alliance Laundry designs and manufactures commercial laundry systems for medical facilities, hotels, laundromats, fire stations, and other public places, as well as industrial-grade equipment for consumers. Alliance Laundry claims to have a 40% market share in the North American commercial laundry market and a significant presence in other international markets. Since 2010, Alliance Laundry's revenue has grown at a compound annual growth rate of 9.5% and its adjusted EBITDA profit margin is approximately 25%. The company plans to list on the New York Stock Exchange with the ticker symbol ALH. Bank of America Securities, J.P. Morgan, Morgan Stanley, Baird, BDT & MSD, BMO Capital Markets, Citigroup, Goldman Sachs Group, Inc., and UBS Group AG investment banks jointly acted as underwriters for this transaction.