PRINT THIS PAGE Canadian Ontario Teachers' to buy Alliance Laundry Systems10/12/2004. Source: AltAssets. 
 Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan, has signed an agreement to purchase Alliance Laundry Holdings from Bain Capital Partners for approximately US$450m. The transaction is Teacher's first direct investment in the US.
Wisconsin-based Alliance is a designer, manufacturer and marketer of commercial laundry equipment with brand names such as Speed Queen and Ajax. Alliance management will continue to hold a significant investment in the company. The investment is expected to close in February 2005.
Jim Leech, senior vice-president of Teachers' Private Capital, said, 'Its strong management team and leading market share make Alliance an excellent fit for our growing private equity portfolio.'
'Alliance, with its superior quality products and loyal distribution network, is consistent with the high quality investments we are seeking throughout North America,' he continued.
With a portfolio of over Can$6.8bn, Teachers' Private Capital is one of Canada's largest private investors. It specialises in providing private equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets.
It is relatively unusual among institutional investors because it makes both fund investments in private equity and direct investments.
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