Cleaning equipment manufacturer will usher in 150
th
year with new headquarters in Eden Prairie, Minn.
Golden Valley site to become dedicated manufacturing and
engineering campus
MINNEAPOLIS--(BUSINESS WIRE)--
Tennant Company (“Tennant”) (NYSE: TNC), a world leader in designing,
manufacturing and marketing of solutions that help create a cleaner,
safer, healthier world, announced today that it will move its corporate
headquarters from Golden Valley, Minn., to Eden Prairie, Minn., in the
first half of 2020. The company will continue to maintain a significant
presence in Golden Valley, including the company’s largest manufacturing
facility and global innovation center. The new headquarters will be
located in an existing building on a 40-acre campus at 3 Capital Drive,
Eden Prairie.
The move will enable bringing together roughly 500 employees who are
currently spread among three separate buildings on the company’s Golden
Valley campus at the intersection of Highways 100 and 55. Roughly 700
employees will remain working in Golden Valley.
“Now is the right time for a move. We’re at capacity for office space on
our Golden Valley campus, limiting our options for how to use our
existing facilities. This move creates the ability to optimize our
Golden Valley location to be a dedicated manufacturing and engineering
campus,” said Chris Killingstad, President and CEO of Tennant Company.
“Over the years, Tennant has thoughtfully and prudently managed
investments in our facilities. This approach has served us well,” said
Killingstad. “Ultimately, we determined that purchasing an existing
property and consolidating several locations into one was the most
fiscally responsible choice for Tennant employees and shareholders.
“This is an exciting milestone for Tennant as we anticipate moving in to
our new headquarters in what will be our 150th year in
business,” noted Killingstad. “We can’t think of a better way to
celebrate our longevity in business than by moving into our new
headquarters and ushering in a new era for our company.”
Prior to selecting the campus in Eden Prairie, the company evaluated
several other options, including building a new building on its current
Golden Valley site.
Tennant Company’s partners in this transaction include Oppidan
Investment Company and Gensler, an architecture, interior design and
planning firm. A purchase price was not disclosed.
Company Profile
Founded in
1870, Tennant Company (TNC), headquartered in Minneapolis, Minnesota, is
a world leader in designing, manufacturing and marketing solutions that
empower customers to achieve quality cleaning performance, 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; cleaning tools and supplies; and
coatings for protecting, repairing and upgrading surfaces. Tennant's
global field service network is the most extensive in the industry.
Tennant Company had sales of $1.12 billion in 2018 and has approximately
4,300 employees. Tennant has manufacturing operations throughout the
world and sells products directly in 15 countries and through
distributors in more than 100 countries. For more information, visit www.tennantco.com
and www.ipcworldwide.com.
The Tennant Company logo and other trademarks designated with the symbol
“®” are trademarks of Tennant Company registered in the United States
and/or other countries.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190307005114/en/
INVESTOR CONTACT:
Keith Woodward
Senior Vice President and
Chief Financial Officer
keith.woodward@tennantco.com
763-540-1205
MEDIA CONTACT:
Kathryn Lovik
Global Communications Director
kathryn.lovik@tennantco.com
763-540-1212
Source: Tennant Company