Tennant - M&A Summary and Business Overview

MachineryCompany

Tennant M&A Summary

Tennant has acquired 5 companies, including 1 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 1 asset.

Tennant’s largest acquisition to date was in 2017, when it acquired IP Cleaning for $350M. Tennant has acquired in 5 countries. The Company’s most targeted sectors include machinery (60%) and business services (20%).

Tennant Business Overview

Where is Tennant headquartered?

Tennant is headquartered in Eden Prairie, Minnesota.

What is Tennant’s revenue?

Tennant disclosed revenue of 1,092M USD for 2022 and 1,091M USD for 2021.

How many employees does Tennant have?

Tennant has 4,259 employees.

What sector is Tennant in?

Tennant is a machinery company.

When was Tennant founded?

Tennant was founded in 1870.

M&A Summary

  • M&A Total Activity6
    • M&A Buy Activity5
    • M&A Sell Activity1
  • Total Sectors Invested 3
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 2
  • M&A Advisors 4

Tennant

Tennant Co.

10400 Clean Street,
Eden Prairie, Minnesota 55344
United States,
(763) 540-1200
www.tennantco.com

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.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 4 - - - - 1 5
vol $418M $418M
Sell (0.2/yr) # - - 1 - - - 1
  6

Most Recent M&A

Company Date Value Type
Management and Finance GMBH 2024-03-01 - Add-on Acquisition
Neumarkt am Wallersee, Austria · www.mf-trust.com
Tennant Coatings 2021-02-02 - Divestiture
Golden Valley, Minnesota · www.tennantcoatings.com
Hefei GAOMEI Cleaning Equipment Co. Ltd. 2018-09-25 - Add-on Acquisition
Shushan District, China · www.gaomei.cn
IP Cleaning SPA (IPC Group) 2017-02-23 350M USD Add-on Acquisition
Summaga, Italy · www.ipcworldwide.com
Dofesa Barrido Mecanizado S.a. De C.V. 2016-09-01 - Add-on Acquisition
Aguascalientes, Mexico · www.grupodofesa.com.mx
Applied Sweepers International Ltd. 2008-02-15 68M USD Add-on Acquisition
Falkirk, United Kingdom · www.appliedsweepers.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Machinery 3 (60%) 418M (100%) - -
Business Services 1 (20%) - - -
Distribution 1 (20%) - - -
Chemicals - - 1 (100%) -
Total 5 $418M 1 -

By Geo

State/Country Buy Value Sell Value
Austria 1 - - -
China 1 - - -
Italy 1 350M - -
Mexico 1 - - -
United Kingdom 1 68M - -
United States - - 1 -
  Minnesota - - 1 -
Domestic - - 1 (100%) -
Cross-border 5 (100%) 418M (100%) - -
Total 5 $418M 1 -

Top M&A Advisors

Financial Deals
BMO Capital Markets
 1
Goldman Sachs
 1
Legal Deals
Baker & McKenzie
 1
Ballard Spahr LLP
 1

Deal Values

buy # Total
$100M to $1B 1 $350M
< $100M 1 $68M
TOTAL $418M
Largest IP Cleaning SPA (IPC Group)
$350M (2017-02-23)

M&A Connections

Deals
Acquired from
Investor(s)
20%
1 (20%)
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Machinery

Revenue

1,092   1% 2022
1,091   9% 2021
1,001   13% 2020
1,138   2% 2019
1,124   13% 2018
1,003   24% 2017
809   1% 2016
812   2% 2015
822   10% 2014
752   2% 2013
738   2012
(millions of USD) Show More Show Less

Employees

4,259

Established

1870

Public

NYSE: TNC

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