MINNEAPOLIS--(BUSINESS WIRE)--
Tennant Company (NYSE: TNC), a world leader in designing, manufacturing
and marketing solutions that help create a cleaner, safer world, today
announced that it has acquired the assets of Dofesa Barrido Mecanizado
(“Dofesa”), Tennant Company’s largest and long-time Mexico distributor,
based in Aguascalientes in central Mexico. The transaction closed on
September 1, 2016, and terms were not disclosed.
Tennant Company completed the acquisition through its existing Mexican
subsidiary, Tennant Sales and Services of Mexico (“Tennant Mexico”). In
addition to other Tennant distributors in Mexico, this acquisition will
enable Tennant Mexico to have broad and deep representation in key
regions such as Mexico City, Monterrey, Guadalajara, and Puebla.
“This acquisition represents a key investment into Tennant Company’s
growth in targeted emerging markets. Tennant Company is interested in
opportunities that expand our sales and service networks and enhance our
ability to meet customer needs more quickly. We’re very excited to see
all three of these coming together with Dofesa. Adding the 50-plus
Dofesa employees to the Tennant Mexico team and with the distribution
facilities of Dofesa, Tennant Mexico will be able to provide equipment,
parts and service directly to our distributors and customers, shortening
the time to delivery and avoiding extra costs,” said Rusty Zay, Senior
Vice President of the Americas for Tennant Company. “Tennant Company has
great respect for Dofesa and its 40-year legacy as a Tennant distributor
in Mexico. We look forward to building upon this foundation as we take
Tennant Mexico to a whole new level,” Zay continued.
Alejandro Hernandez, owner of Dofesa, commented, “Our business has
enjoyed a very successful relationship with Tennant Company for many
years. Representing the high-quality Tennant brand to our customers in
Mexico has helped Dofesa become the leading name in cleaning in this
market. We are very confident that Tennant Mexico will carry on the
commitment to quality that our companies have shared for so long.”
This is the second acquisition announced recently by Tennant Company. On
July 28, 2016, the company announced its acquisition of the commercial
floor coatings business of Crawford Laboratories, maker of Florock®
brand floor coatings.
Zay noted that these transactions are consistent with the company's
strategy of pursuing add-on acquisitions to gain access to interesting
products or to expand its global sales and service coverage.
About Tennant Company
Minneapolis-based
Tennant Company (TNC) is a world leader in designing, manufacturing and
marketing solutions that empower customers to achieve quality-cleaning
performance, significantly reduce their environmental impact and help
create a cleaner, safer, healthier world. Its products include equipment
for maintaining surfaces in industrial, commercial and outdoor
environments; detergent-free and other sustainable cleaning
technologies; and coatings for protecting, repairing and upgrading
surfaces. Tennant's global field service network is the most extensive
in the industry. Tennant has manufacturing operations in Minneapolis,
Minn.; Holland, Mich.; Louisville, Ky.; Uden, The Netherlands; São
Paulo, Brazil; and Shanghai, China; and sells products directly in 15
countries and through distributors in more than 80 countries. For more
information, visit www.tennantco.com.
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Source: Tennant Company