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

(Reuters) -Alliance Laundry is targeting a valuation of up to $4.34 billion in its U.S. initial public offering, the commercial laundry equipment maker said on Monday, as the frenzy around first-time share sales rages on.

The Ripon, Wisconsin-based company and its backer, BDT Capital Partners, are aiming to raise up to $751.2 million by offering 34.1 million shares priced between $19 and $22 apiece.

October is also shaping up to be another potentially busy month for the IPO market following a blistering start to the fall window.

Tax firm Andersen Group, crypto custody startup BitGo and corporate travel and expense company Navan have joined the IPO pipeline recently.

Founded in 1908, Alliance Laundry manufactures commercial washing machines, dryers and ironers with load capacities of up to 400 pounds under five brands - Speed Queen, UniMac, Huebsch, Primus and IPSO.

The stock market flotation comes after the company's owner, BDT & MSD Partners, previously explored a sale of the business that could have valued it at nearly $5 billion, including debt, Reuters had reported.

In 2015, Ontario Teachers' Pension Plan sold its majority stake in Alliance Laundry to BDT Capital Partners.

Cornerstone investors Capital International and Kayne Anderson Rudnick have indicated interest in buying up to $100 million of Alliance Laundry's shares.

BofA Securities and J.P. Morgan are the lead underwriters for the offering. Alliance Laundry will list on the New York Stock Exchange under the symbol "ALH."

BDT Capital Partners, an affiliate of merchant bank BDT & MSD Partners, will own 76% of Alliance Laundry's shares following the offering.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shreya Biswas)