M&A Deal Summary

Tennant Acquires IP Cleaning

On February 23, 2017, Tennant acquired machinery company IP Cleaning from Ambienta for 350M USD

Acquisition Highlights
  • This is Tennant’s 2nd transaction in the Machinery sector.
  • This is Tennant’s largest (disclosed) transaction.
  • This is Tennant’s 1st transaction in Italy.

M&A Deal Summary
Date 2017-02-23
Target IP Cleaning
Sector Machinery
Buyer(s) Tennant
Sellers(s) Ambienta
Deal Type Add-on Acquisition
Deal Value 350M USD

Target

IP Cleaning

Summaga, Italy
website
IP Cleaning SPA (IPC Group) is a provider of professional cleaning solutions for commercial markets. The company designs and manufactures professional cleaning machines and equipment.

Search 192,349 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Tennant

Eden Prairie, Minnesota, United States

website

Category Company
Founded 1870
Sector Machinery
Employees4,259
Revenue 1.1B USD (2022)
DESCRIPTION

Tennant is a designer, manufacture and marketer of cleaning products. Its products include equipment for maintaining floors in industrial, commercial and outdoor environments; and coatings for protecting, repairing and upgrading concrete floors. Tennant was founded in 1870 and is based in Eden Prairie, Minnesota.

DEAL STATS #
Overall 3 of 5
Sector (Machinery) 2 of 3
Type (Add-on Acquisition) 3 of 5
Country (Italy) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-01 Dofesa Barrido Mecanizado S.a. De C.V.

Aguascalientes, Mexico

Dofesa Barrido Mecanizado S.a. De C.V. is a distributor of tennant equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-25 Hefei GAOMEI Cleaning Equipment

Shushan District, China

Hefei GAOMEI Cleaning Equipment Co. Ltd. is a manufacturer of cleaning machines, including multi-functional single disc scrubbing machines, foaming tanks, vacuum cleaners, wet & dry cleaners, carpet extractors, blowers, high-pressure washers and floor scrubbers for commercial and industrial markets.

Buy -

Seller(S) 1

SELLER

Ambienta

Milan, Italy

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2007
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Ambienta is a pan-European middle-market investor focused on acquiring rapidly expanding companies capturing long-term environmental trends. The Firm will consider opportunities throughout Europe and looks to commit €30 to €100 million per transaction. Ambienta was formed in 2007 and is based in Milan, Italy.

DEAL STATS #
Overall 5 of 12
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 4 of 9
Country (Italy) 4 of 8
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 SPIG

Arona, Italy

SPIG SpA is a provider of custom-engineered cooling systems and services.

Sell €155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 energy wave srl

Alessandria, Italy

energy wave srl is an Energy Service company that offers energy-efficient heating solutions to private residential customers, with a leading market position and strong brand recognition in core provinces of North West Italy. energy wave srl is based in Alessandria, Italy.

Buy -
Mergr

Product

Company

Legal