FILE PHOTO: A man walks into the New York Stock Exchange (NYSE) building in New York City, U.S., March 11, 2025. REUTERS/Shannon Stapleton/File Photo

By Anuj T

(Reuters) -Alliance Laundry Systems was valued at nearly $4.83 billion after its shares jumped 11.4% in their New York debut on Thursday, making the private equity-backed commercial laundry equipment maker the latest to join a buoyant listings market.

Shares of the Ripon, Wisconsin-based Alliance opened at $24.5 apiece, above the issue price of $22.

Alliance and some of its existing shareholders sold 34.1 million shares in an initial public offering on Wednesday, at the top of its target range of $19 to $22 apiece.

The warm reception to the listing "underlines that investors are getting more confident in less growth focused, more capital structure private equity type deals, which thus far have been lagging," Josef Schuster, CEO of financial services company IPOX, told Reuters.

Private equity firm BDT Capital Partners had acquired a majority stake in Alliance Laundry from Ontario Teachers’ Pension Plan in 2015.

"We expect this to pave the way for similar deals as U.S. IPO profile proliferates," Schuster said.

Last month, engineering and maintenance services provider Legence, backed by private equity firm Blackstone, went public in New York.

U.S. IPO activity has picked up after a slowdown earlier this year, with companies moving to tap investor appetite as concerns over President Donald Trump's trade policies ease.

Companies such as Swedish fintech firm Klarna and online ticketing marketplace StubHub tested the public markets with their hotly anticipated debuts last month.

Over 117 years old, Alliance makes commercial washing machines, dryers and ironers.

(Reporting by Anuj T and Pritam Biswas; Editing by Sahal Muhammed)