Alliance Laundry's (ALH.US) IPO debut soared 13%, surpassing Whirlpool (WHR.US) in market value.

Alliance Laundry Holdings (ALH.US) landed on the New York Stock Exchange on Thursday, Eastern time, with an opening price of $24.50, closing up 12.82% on its IPO day; previously, its IPO was priced with an oversubscribed offer at $22 per share. Of the shares issued in this offering, 24.4 million shares were sold directly by the company, while 13.2 million shares were sold by existing shareholders - Alliance Laundry will not receive any fundraising from the portion of shares sold by existing shareholders. After trading began, Alliance Laundry's stock price reached a high of $25.24, up 14% at one point, with the company's valuation calculated to exceed $4.5 billion, slightly higher than industry competitor Whirlpool's market capitalization level. Alliance Laundry Holdings is a global leader in the production of commercial washing machines and dryers, headquartered in Ripon, Wisconsin. The company has secured new investors - Capital International Investors and Kayne Anderson Rudnick have committed to collectively subscribe to $200 million worth of shares in this offering. Alliance Laundry primarily designs and manufactures commercial laundry systems, widely used in medical facilities, hotels, laundromats, fire stations, and other institutional settings. According to documents filed with the U.S. Securities and Exchange Commission (SEC), the company holds a 40% market share in North America's commercial laundry market, maintaining a stable position in other international markets as well. For the 12 months ending on June 30, Alliance Laundry achieved revenue of $1.6 billion, with a net profit of $79 million. The company emphasized in SEC filings that since 2010, its revenue compound annual growth rate has been around 9.5%, with adjusted EBITDA profit margins consistently around 25%. In the industry, major companies that compete with Alliance Laundry to varying degrees include Whirlpool, Samsung, LG Electronics, Electrolux AB, Maytag (a subsidiary of Whirlpool), Kenmore, and GE Aerospace. Bank of America Securities, JPMorgan, Morgan Stanley, Baird, BDT & MSD, BMO Capital Markets, Citi, Goldman Sachs Group, Inc., and UBS Group AG investment banks jointly served as joint book-runners for this offering.