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It is the last part of a traditional Muslim prayer for the blessing of the Prophet Muhammad. The part that you quoted adds, "and his kin and companions, one and all."
You can, of course, rephrase it in a variety of ways, e.g.,
"and all of his kin and companions."
The term ALIHI has been variously interpreted as "his household," "his descendants," and "his family." The reference is to AHL AL-BAYT, who consist of the Prophet's immediate family and descendants.
WA SAHBIHI ("and his companions") refers to the Prophet's faithful followers whose lives at least partially overlapped his, but who are not necessarily his kin. This part of the traditional formula is not universally invoked, because the spiritual significance of being a SAHABIYY ("companion") is disputed.
The full formula (and it comes in many versions") is
وصلى الله وسـلم على محمد وعلى آله وصحبه أجمعين
SALLA ALLAHU WA SALLAMA "ALA MUHAMMADIN WA "ALA ALIHI WA SAHBIHI AJMA"EEN.