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Tennant Company Completes China Acquisition of Gaomei Cleaning Equipment Company

Tennant Company (NYSE: TNC), a world leader in designing, manufacturing
and marketing of solutions that help create a cleaner, safer, healthier
world, today announced that it has completed the acquisition of Gaomei
Cleaning Equipment Company. Gaomei is based in Hefei, China, and is a
recognized leader in the development and production of small- to
mid-sized cleaning equipment and solutions for commercial and industrial
applications.


The Gaomei acquisition represents another step toward global
diversification of revenue for Tennant Company as the majority of
Gaomeia??s revenue is generated inside China. The Gaomei acquisition
aligns with Tennanta??s growth strategies for China, expands Tennanta??s
local China manufacturing footprint providing additional scale to
compete, and enhances profitability. Gaomei also adds another strong
brand to Tennanta??s global brand portfolio following Tennanta??s
acquisition of European-based IPC Group in 2017.


Commented Pat Schottler, Tennant Company Vice President, Asia Pacific
(APAC): "Our acquisition of Gaomei will help Tennant further strengthen
our market position in China through a highly complementary product
portfolio and differentiated go-to-market strategy. We are excited about
our combined potential in this strategically important market. We look
to build on the 21-year legacy Gaomei has established as a recognized
leader in the Chinese market.a??


Gaomei will continue to operate and compete independently. The company
will remain focused on building the Gaomei brand, advancing its
innovative product portfolio, and growing market presence.
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