PW Inc. and SpinCycle LLC have chr...

PW Inc. and SpinCycle LLC have chronicleed into an agreement under which PW by the and of its Lucky Spin Laundries LLC affiliate, will acquire SpinCycle. times of the all-cash transaction were not disclosed. The parties wait for the transaction will close at the end of September 2003 subdue to the satisfaction of customary closing conditions.

"SpinCycle's financial nerve talented employee base and mighty brand name has allowed existing shareholders to realize substantial value and liquidity in this transaction," says Chris Lombardi, chief operating officer of SpinCycle