For most people, when they hear of a merger or acquisition, they think of multi-million dollar corporations in the finance realm, and visions of lay offs and huge company changes come to mind. However, acquisitions are not necessarily a bad thing; they often bring positive change to not only the companies involved, but the industry in which those companies serve.
Take Whirlpool’s recent announcement of acquiring American Dryer Corporation (ADC) this July, for example. According to officials from Whirlpool, this acquisition will give its commercial laundry business a platform to reach new markets and channels. Chris Fitzgerald, CEO of ADC, states that this acquisition is “an important milestone in the evolution of innovative global commercial laundry equipment.”
Fitzgerald notes that both Whirlpool Corporation and ADC are leaders of their own right in global commercial laundry innovations and development. With the merge of these two companies, they’ll be able to positively increase and reinforce their research and development capabilities, thus producing innovative and advanced commercial laundry equipment.
Acquisitions within the commercial laundry industry allow companies to acquire new technology and knowledge, in addition to improving their market reach and industry visibility. The main goal of an acquisition in any industry is to create a sort of synergy that makes the value of the combined organizations greater than the sum of the two separate companies.
At Irving Weber Associates (IWA) our goal is simple: to help you protect your most valuable assets — your business, property, customers and employees. Since we opened our doors in 1946, we have been developing comprehensive, affordable insurance programs that meet the individual needs of clients requiring dry cleaner insurance, Laundromat insurance, and more. Please contact us today learn more.