Tennant Company Completes Sale of Coatings Business

Tennant Company announced it has completed the sale of its coatings business, Tennant Coatings, to The Sherwin-Williams Company.

“The sale of Tennant’s coatings business is our latest move in the ongoing implementation of our enterprise strategy,” said Tennant CEO Chris Killingstad. “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 Coatings designs and manufactures indoor and outdoor coatings systems for a variety of applications and industries. For the trailing 12 months ended Sept. 30, 2020, the coatings business generated $22.1 million in sales, or 2.2 percent of Tennant Company’s total sales. Following the sale, approximately 70 Tennant employees are expected to join The Sherwin-Williams Company.

The post Tennant Company Completes Sale of Coatings Business appeared first on American Coatings Association.

from American Coatings Association https://www.paint.org/tennant-company-completes-sale-of-coatings-business/
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