IPO Profile

Coinmach Service
303 Sunnyside Boulevard, Suite 70, Plainview, New York 11803
Tel:
Web: www.coinmach.com
Ticker: DRY
Amount Raised: $249,612,000.00

Description:
Our long-term contracts with our customers provide us with stable, recurring revenues and consistent cash flows. We estimate that approximately 90% of our locations are subject to long-term contracts with initial terms of five to ten years, most of which have automatic renewal or right of first refusal provisions. In each year since 1997, we have retained on average approximately 97% of our existing machine base. The existing customer base for our route business is comprised of owners of rental apartment buildings, property management companies, condominiums and cooperatives, universities and other multi-family housing properties. We typically set pricing for the use of laundry machines on location, and the owner or property manager maintains the premises and provides utilities such as natural gas, electricity and water. Our size and scale offer significant advantages over our competitors in terms of operating efficiencies and the quality of service we provide our customers. We have grown our route business through selective acquisitions in order to expand and geographically diversify our service territories. Since January 1995, we have enhanced our national presence by completing nine significant acquisitions (as well as numerous smaller acquisitions that we refer to as �tuck ins�), growing our washer and dryer machine base from approximately 55,000 machines in 5,000 locations to approximately 664,000 machines in approximately 70,000 locations as of December 31, 2003. As a result of this strategy, we have expanded our presence from the northeastern United States throughout North America. We also operate 164 retail laundromats with approximately 11,000 machines located in Texas and Arizona.