Tennant Company designs, manufactures and markets solutions that help create a cleaner, safer and healthier world.
The company is evolving into a successful wood flooring and wood products company, and finally into a manufacturer of floor cleaning equipment. The company has multiple global manufacturing locations and operates in three geographic areas, including the Americas, Europe, Middle East, and Africa (‘EMEA’), and Asia Pacific (‘APAC’). It aggregates its operating segments into one repor...
Tennant Company designs, manufactures and markets solutions that help create a cleaner, safer and healthier world.
The company is evolving into a successful wood flooring and wood products company, and finally into a manufacturer of floor cleaning equipment. The company has multiple global manufacturing locations and operates in three geographic areas, including the Americas, Europe, Middle East, and Africa (‘EMEA’), and Asia Pacific (‘APAC’). It aggregates its operating segments into one reportable segment that consists of the design, manufacture, sale, and servicing of products used primarily in the maintenance of nonresidential surfaces.
The company has expanded its brand portfolio, diversified its product offerings, and advanced its technologies through innovation and strategic acquisitions. This disciplined approach to growth ensures that each acquisition complements the company's existing capabilities and adds value by enhancing its product range or improving technological expertise.
Principal Products, Markets, and Distribution
The company offers products and solutions consisting of manual and autonomous mechanized cleaning equipment for both industrial and commercial use, detergent-free, and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions. The company is committed to developing cleaning technologies that increase cleaning productivity. It has a strong brand presence in the global markets it serves, offering both premium and mid-tier products for each region to meet customer needs.
The company's products are used in many types of environments, including retail establishments, distribution centers, factories and warehouses, public venues, such as arenas and stadiums, office buildings, schools and universities, hospitals and clinics, and more. The company markets its offerings under the following brands: Tennant, Nobles, Alfa Uma Empresa Tennant, IPC, Gaomei, and Rongen brands, as well as private-label brands. The company has a portfolio of differentiated technology solutions that includes IRIS as an asset management solution, ec-H2O NanoClean as a detergent-free cleaning solution, and ReadySpace as a rapid-drying carpet cleaning technology. The company's more than 40,000 customers include contract cleaners to whom organizations outsource facilities maintenance, as well as businesses that perform facilities maintenance themselves. The company reaches these customers through a direct sales and service organization, and through a strong and well-supported network of authorized distributors worldwide.
The company has an extensive global field service network. It sells products directly in various countries and through distributors in more than 100 countries.
Major Customers
The company sells a wide range of products to a diversified base of customers around the world.
Seasonality
The first quarter tends to be at the low end of the range, reflecting customers’ initial slow ramp-up of capital purchases, and the company’s efforts to close out orders at the end of each year (year ended December 31, 2024). The second and fourth quarters tend to be toward the high end of the range, and the third quarter is typically in the middle of the range.
Research and Development
The company’s research and Development (‘R&D’) expense was $43.8 million in 2024.
History
Tennant Company was founded in 1870. The company was incorporated as a Minnesota corporation in 1909.