July, 2008
Stonebridge Partners has completed the recapitalization of American Dryer Corporation (ADC), the world’s largest manufacturer dedicated exclusively to commercial laundry dryers. As part of the transaction, ADC’s CEO reinvested a substantial amount of equity into the recapitalized company and several senior executives became shareholders.
ADC provides innovative and energy-efficient drying solutions for the commercial laundry market in 90 countries worldwide. The Company manufactures a broad array of dryer models serving the laundromat, lodging, hospital and hospitality markets, each expressly designed to perform in high volume environments with speed, precision, efficiency and reliability. ADC employs over 350 corporate, engineering, and manufacturing professionals at its facilities in Fall River, Massachusetts.
The transaction is the first core company investment for Stonebridge Partners Equity Fund IV, L.P.
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