Tennant Company Expands in Mexico; Acquires Dofesa, a Long-Time Mexico Distributor of Tennant Equipment
02 September 2016 - 6:30AM
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
CompanyMinneapolis-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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version on businesswire.com: http://www.businesswire.com/news/home/20160901006397/en/
Tennant CompanyInvestor Contact:Tom Paulson,
763-540-1204Senior Vice President and Chief Financial
Officertom.paulson@tennantco.comorMedia Contact:Kathryn Lovik,
763-540-1212Global Communications
Directorkathryn.lovik@tennantco.com
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