BENTON HARBOR, Mich. ─ Whirlpool Corporation has entered into an agreement to acquire American Dryer Corporation (ADC), a privately held company.
The planned acquisition gives Whirlpool Corporation’s commercial laundry business a platform to reach new markets and channels, while building on a strong foundation of industry-leading innovation, quality, and service.
“The acquisition of ADC by Whirlpool is an important milestone in the evolution of innovative global commercial laundry equipment”, said Chris FitzGerald, CEO of ADC. “Whirlpool Corporation commercial laundry business and ADC are each leaders in global commercial laundry innovation and development. Together they will be able to offer an impressive array of commercial laundry equipment as well as significant research and development capabilities. I firmly believe this combination will be good for both Whirlpool and ADC, and just as importantly it will be good for ADC’s customer base due to the expanded product portfolio as well as the combined strength of the two companies in manufacturing and R&D”.
“Acquiring ADC strengthens our commitment to the commercial laundry industry and is aligned to our objectives of driving growth in adjacent businesses,” stated Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer. “We believe this acquisition nicely complements our leadership position in the overall laundry category.”
Whirlpool Corporation expects to close on the purchase in early July with integration activities happening throughout the balance of 2015. ADC is headquartered in Fall River, MA and is home to approximately 230 employees, a 300,000 square foot manufacturing facility and state-of-the-art engineering and design center. The ADC manufacturing facility will become a valuable part of the Whirlpool manufacturing portfolio.
Terms of the planned transaction will not be disclosed.