February 25, 2008—Tennant Co., a manufacturer of products that help create a cleaner, safer world, has entered into an agreement to acquire Applied Sweepers, maker of Green Machines brand cleaning equipment, for approximately $68 million.
The deal is expected to close by the end of February or early March 2008. Completion of the transaction is subject to concluding routine environmental due diligence and other customary closing conditions.
Applied Sweepers, a privately-held company based in Falkirk, Scotland, with 2007 revenues of roughly $40 million (USD), is a manufacturer of sub-compact outdoor sweeping machines in the United Kingdom (UK) and operates overseas subsidiaries in the US, France and Germany. Applied Sweepers is the leading supplier of smaller sweepers used for city cleaning to municipalities across the UK and sells through a broad distribution network around the world.
Sold under the brand name “Green Machines,” Applied Sweepers’ products come in three ranges and are used in city cleaning applications such as sweeping pavements, pedestrian areas, streets and alleyways.
Minneapolis-based Tennant Co. produces equipment for maintaining surfaces in industrial, commercial and outdoor environments; and coatings for protecting, repairing and upgrading concrete floors. For more information, see the Web site.
