Tennant Company Closes Acquisition of Alfa Cleaning Equipment Manufacturer
Sociedade Alfa Ltda. Complements Tennant’s Global Strategy MINNEAPOLIS, Minn., Mar. 28, 2008—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 completed its acquisition of Sociedade Alfa Ltda., maker of the Alfa brand commercial cleaning machines. Terms of the agreement were not disclosed.
Sociedade Alfa Ltda., based in Sao Paulo, Brazil, with 2007 revenues of roughly $9 million (USD), is recognized as the Brazilian market leader in the cleaning industry. Alfa manufactures and sells commercial cleaning equipment that includes commercial ride-on scrubbers, ride-on sweepers and walk-behind scrubbers.
Sociedade Alfa’s low cost commercial cleaning equipment, strong distribution channel and highly-respected service organization complement the strong line of Tennant’s industrial products and specialty coatings to provide an enhanced range of options in the Latin America market, and create a tremendous foundation for growth.
This is the second acquisition announced by Tennant Company in 2008. The company recently announced its acquisition of Applied Sweepers, maker of Green Machines® brand outdoor cleaning equipment, based in Falkirk, Scotland.
About Tennant Company
Minneapolis-based Tennant Company (NYSE: TNC) is a world leader in designing, manufacturing and marketing solutions that help create a cleaner, safer world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; and coatings for protecting, repairing and upgrading concrete floors. Tennant Company's global field service network is the most extensive in the industry. Tennant Company has manufacturing operations in Minneapolis, Minn.; Holland, Mich.; Uden, The Netherlands; Northampton, United Kingdom; 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.
About Sociedade Alfa Ltda.
Established in 1944, Sociedade Alfa Ltda. has established its market position through a network of distributors and dealers in Brazil and other parts of South America. Manufacturer of the Alfa line of equipment, the company employs approximately 90 people among its three locations.
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