Client: Electrolux AB
Transaction: Sale of Washex and Challenge, either in separate transactions or collectively.
Company Description: Washex produces industrial washing machines used in large laundry facilities such as hospitals laundry services and in garment processing such as the manufacture of prewashed clothes. Challenge produces industrial drying machines used in similar applications.
Summary: Operating from separate facilities over 1000 miles apart, Washex and Challenge served similar end markets. A principal of Plaisance Advisors assisted in designing a marketing program for the company that enabled prospective acquires to acquire the businesses either together or separately. In the end, Lavatec AG purchased both businesses as a way to expand its presence in the United States.