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FGS Global handles Alliance Laundry Systems, which enjoyed a robust IPO debut on Oct. 10 as its stock rose 13 percent to just under $25 per share.
The Ripon, WI-based company is the leader in providing washing machines and dryers to laundromats. Its brands include Speed Queen, UniMac, Huebsch, Primus and IPSO.
In August, Alliance acquired the distribution assets of Queens-based Metropolitan Laundry Machinery Sales, which has a strong presence in the northeastern US.
The IPO raised about $825M for Alliance and gave it a valuation in the $5B range.
The company recorded a $98.3M profit during the past year, which was up 11 percent from 2023. Revenue jumped 10 percent to $1.5B.
BDT Capital Partners is the biggest shareholder in Alliance, owning a 73 percent stake.
KKR owns FGS Global.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
