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9 December 2004 – LAWFUEL – First with law news – Debevoise & Plimpton…

9 December 2004 – LAWFUEL – First with law news – Debevoise & Plimpton LLP is representing Teachers’ Private Capital in its agreement to purchase Alliance Laundry Holdings LLC, parent company of Alliance Laundry Systems LLC, from Bain Capital LLC and other minority shareholders through an entity to be established by Teachers Private Capital for approximately $450 million. The management team will continue to hold a significant investment in Alliance Laundry Holdings following the close of the transaction. The transaction is expected to close in February 2005, subject to financing and customary closing conditions.

Alliance Laundry Systems LLC is one of North America’s leading manufacturer of commercial laundry products and equipment such as Speed Queen, UniMac, Huebsch and Ajax. Teachers’ Private Capital is the private equity arm of the C$79 billion Ontario Teachers’ Pension Plan, which invests on behalf of 250,000 teachers in Ontario, Canada and is one of Canada’s largest private investors.

The Debevoise team is led by Margaret A. Davenport, co-head of the firm’s private equity group, and includes partners Andrew N. Berg on tax and Paul D. Brusiloff and Gregory H. Woods on leveraged finance, counsel Stuart Hammer on environmental issues and Judith L. Church on intellectual property issues, and associates Timothy Bass, Lisa B. Gorrin, Matthew Heintz, Jamin R. Koslowe, Christian P. Mendoza, Sung Su Pak, Seth L. Saideman, Nilufar Shaikh, Gail D. Steiner, Cecilia C. Takayama and Cedrik L. Thiele.

Should you have any questions, please call Robin Shanzer, Media & Public Relations Manager at 212-909-1080.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.