Tennant Finalizes Divestment of Coatings DivisionFebruary 8, 2021
Tennant Co. has successfully completed the divestment of its coatings business, Tennant Coatings, to The Sherwin-Williams Co.
Per the terms of the deal, nearly 70 Tennant employees are expected to join Sherwin-Williams’ team. Financial details of the transaction were not announced.
“The sale of Tennant’s coatings business is our latest move in the ongoing implementation of our enterprise strategy—specifically, winning where we have competitive advantage,” said Chris Killingstad, Tennant CEO. “By divesting a business that is not central to our core strengths in industrial and commercial floor cleaning, we can redirect resources toward more strategic and profitable activities.”
Tennant Co. is a manufacturer of equipment for maintaining surfaces in industrial, commercial, and outdoor environments as well as surface coatings for concrete floors. Tennant sells products directly in 15 countries and through distributors in more than 80 countries. For more information, visit www.tennantco.com.