Golden Valley-based Tennant Co. wrapped up a big week with acquisition news from Mexico and a high-profile debut at the U.S. Open in New York.
The maker of large and ridable floor cleaners and street sweepers announced Friday that it had bought the assets of Mexican distributor Dofesa Barrido Mecanizado effective Sept. 1. Terms were not disclosed.
The deal will give Tennant's Mexico operations a broader representation in key regions such as Mexico City, Monterrey, Guadalajara, and Puebla, officials said.
"Adding the 50-plus Dofesa employees to the Tennant Mexico team and [by adding] 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, Tennant senior vice president of the Americas. "This acquisition represents a key investment into Tennant Company's growth in targeted emerging markets."
Stateside, there was more news as Tennant announced Friday that its big street sweepers made a big splash at the U.S. Open in New York as officials this week raced machines around the flooded tennis courts to dry up the storm-hit arena.
The effort came just in time so U.S. Open players Venus Williams, Julia Goerges, Roberta Vinci, Carina Witthoeft and others could battle without dodging puddles.
Tennant, which is expected to close the year with $800 million to $820 million in annual revenue, saw its stock rise $1.57 to close at $66.53 per share Friday.
Dee DePass • 612-673-7725
