Tennant Acquires TCS EMEA To Expand Presence In Eastern Europe

On Friday, Tennant Company TNC announced that it has acquired M&F Management and Financing, the parent company of TCS EMEA, as Tennant seeks to accelerate growth in the EMEA region.

Terms of the transaction were not disclosed. The acquisition gives Tennant an established direct channel into countries including Romania, Hungary, the Czech Republic, and Slovakia.

Under the deal, the company will also have an expanded network in Austria, Switzerland, Poland, and other nations in the region, as well as the Middle East and Africa.

The acquisition aligns with Tennant’s strategy of investing in firms possessing commercial capabilities. This move aims to extend Tennant’s cleaning solutions to new markets and enhance its global sales and service network.

“We are confident that we can leverage the experienced TCS team to increase our presence in Eastern Europe while using Tennant’s extensive resources in the region to support the strong service that TCS has always provided their customers,” said Rusty Zay, Senior Vice President and Chief Commercial Officer for Tennant Company. 

Price Action: TNC shares closed lower by 0.25% to $113.19 on Thursday.

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