Tennant Company Announces Agreement to Acquire Gaomei Cleaning Equipment Company

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 signed a definitive agreement to acquire Gaomei Cleaning Equipment Company, a privately held designer and manufacturer of commercial cleaning solutions based in China.

Gaomei, a family-run business, offers a range of cleaning machines and equipment, including single disc scrubbing machines, vacuum cleaners, carpet extractors, blowers, high-pressure washers, sweepers, and floor scrubbers. The company, founded in 1997, has been a recognized leader in the research and development and production of small- to mid-sized cleaning solutions for commercial and industrial applications.

Commented Pat Schottler, Tennant Company Vice President, APAC: “Acquiring Gaomei is a strategic move that aligns with our growth aspirations in the China market. Over the last 21 years, Gaomei has consistently demonstrated an ability to grow and distinguish its brand in China. The acquisition will enable Gaomei and Tennant to further strengthen our position in the region by offering highly complementary product portfolios and differentiated go-to-market approaches.”

Gaomei will continue to operate and compete independently. The company will remain focused on building their brand, advancing their innovative product portfolio, and growing their market presence. “This is a win-win for Gaomei and Tennant as well as our partners, customers, and employees! We are confident that our collaboration with Tennant will help us expand our capabilities and grow the Gaomei brand,” said Mr. Chen Guobao, Gaomei General Manager. “We are very excited about the future and the possibilities ahead of us working together with Tennant Company,” he added.

Said Schottler: “We welcome Gaomei as part of Tennant Company’s multi-brand portfolio. Gaomei is an established leader in the mid-tier market with a strong management team and we are excited about our combined potential.”

Tennant expects the acquisition to be completed in the 2018 fourth quarter.

About Hefei GAOMEI Cleaning Equipment Company, Ltd.
Hefei GAOMEI Cleaning Equipment Company, Ltd., established in 1997, is a renowned professional cleaning equipment manufacturer with import and export rights. GAOMEI manufactures cleaning machines, including multi-functional single disc scrubbing machines, foaming tanks, vacuum cleaners, wet & dry cleaners, carpet extractors, blowers, high-pressure washers and floor scrubbers for commercial and industrial markets. GAOMEI’S professional cleaning equipment is sold in Southeast Asia, Australia, South Asia, Eastern Asia, Europe, the Middle East, and the Americas. For more information, visit http://www.gaomei.cn.