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Tennant, Tennant Company ("the Company, we, us, or our"), headquartered in Eden Prairie, Minnesota, is a world leader in designing, manufacturing and marketing of solutions that help create a cleaner, safer and healthier world.
−Removed: Tennant was incorporated as a Minnesota corporation in 1909 and began as a one-man woodworking business, eventually evolving into a successful wood flooring and wood products company, and finally into a manufacturer of floor cleaning equipment.
−Removed: Throughout its history, the Company has remained focused on advancing our industry by aggressively pursuing new technologies and creating a culture that celebrates innovation.
+Added: Tennant was incorporated as a Minnesota corporation in 1909 and began as a one-man woodworking business, eventually evolving into a successful wood flooring and wood products company, an d finally into a manufacturer of floor cleaning equipment.
+Added: Throughout its history, the Company has remained focused on advancing its industry by aggressively pursuing new technologies and creating a culture that celebrates innovation.
Today, the Company has 11 global manufacturing locations and operates in three geographic areas including the Americas, Europe, Middle East and Africa ("EMEA") and Asia Pacific ("APAC").
We aggregate our operating segments into one reportable segment that consists of the design, manufacture, sale and servicing of products used primarily in the maintenance of nonresidential surfaces.
−Removed: The Company is committed to developing innovative and sustainable solutions that help our customers clean spaces more effectively with high-performance solutions that minimize waste, reduce costs, improve safety and further sustainability goals.
+Added: Our commitment to innovation and excellence extends across every aspect of our business—from product development and customer service to manufacturing and marketing.
+Added: We prioritize delivering high-performance solution s that minimize waste, lower costs, enhance safety, and advance sustainability objectives.
+Added: By dedicating resources to research, development and engineering, we continuously refine existing products and introduce new ones that align with evolving market demands.
+Added: Over the past century, we have expanded our brand portfolio, diversified our product offerings, and advanced our technologies through innovation and strategic acquisitions.
+Added: This disciplined approach to growth ensures that each acquisition complements our existing capabilities and adds value by enhancing our product range or improving technological expertise.
Principal Products, Markets and Distribution
−Removed: The Company offers products and solutions consisting of manual and mechanized cleaning equipment for both industrial and commercial use, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and business solutions such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
−Removed: The Company is committed to developing cleaning technologies, including autonomous solutions, which increase cleaning productivity.
+Added: The Company offers products and solutions consisting of manual and autonomous mechanized cleaning equipment for both industrial and commercial use, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and business solutions such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
+Added: The Company is committed to developing cleaning technologies which increase cleaning productivity.
We have strong brand presence in the global markets we serve, offering both premium and mid-tier products for each region to meet customer needs.
The Company's products are used in many types of environments including:
−Removed: factories and warehouses, distribution centers, office buildings, public venues such as arenas and stadiums, office buildings, schools and universities, hospitals and clinics, and more.
+Added: retail establishments, distribution centers, factories and warehouses, public venues such as arenas and stadiums, office buildings, schools and universities, hospitals and clinics, and more.
The Company markets its offerings under the following brands:
Tennant ® , Nobles ® , Alfa Uma Empresa Tennant™, IPC, Gaomei and Rongen brands as well as private-label brands.
−Removed: The Company has a portfolio of differentiated technology solutions that includes IRIS ® as an asset management solution, ec-H2O NanoClean ® as a detergent-free cleaning solution, and ReadySource ® as a rapid-drying carpet cleaning technology.
+Added: The Company has a portfolio of differentiated technology solutions that includes IRIS ® as an asset management solution, ec-H2O NanoClean ® as a detergent-free cleaning solution, and ReadySpace ® as a rapid-drying carpet cleaning technology.
The Company's more than 40,000 customers include contract cleaners to whom organizations outsource facilities maintenance, as well as businesses that perform facilities maintenance themselves.
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Steel, metal alloys and resin are the primary raw materials used to manufacture our mechanized cleaning equipment.
−Removed: We purchase various component parts, electronics and services used in production, logistics and product development processes from third parties.
−Removed: The Company has experienced cost inflation and constrained supply of certain raw materials and component parts.
+Added: We purchase various component parts, electronics and services used in production and product development processes from third parties.
+Added: Our industry continues to be impacted by input cost inflation, supply chain disruptions and other global macroeconomic challenges.
+Added: While in recent years we experienced material increases to input costs and supply chain disruptions, during 2024, we experienced some moderation in input cost inflation and increased supply chain stability, which we expect to continue into 2025.
The Company continues work to minimize the impact of cost inflation and market supply challenges by employing local-for-local and region-for-region manufacturing and sourcing to allow us to manufacture our products closer to our customers.
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We conduct research and development activities to develop new products and to enhance the functionality, effectiveness, ease of use and reliability of our existing products.
−Removed: We believe that our research and development efforts have been, and continue to be, key drivers of our success in the marketplace.
+Added: We believe that our research and development efforts have been, and continue to be, key drivers of our success in the marketplace, and we continue to explore new technologies and methodologies that help improve the efficiency and sustainability of our products.
Although the Company’s business is not seasonal in the traditional sense, the percentage of revenues in each quarter typically ranges from 22% to 28% of the total year.
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Additionally, small regional competitors are also significant competitors who vary by country, vertical market, product category or channel.
−Removed: The Company competes primarily on the basis of offering a broad line of high-quality, innovative products supported by an extensive sales and service network in major markets.
+Added: The Company primarily competes by offering a diverse range of high-quality, innovative products supported by an extensive sales and service network in major markets.
Human Capital
−Removed: As of December 31, 2023, we employed approximately 4,457 employees who are guided by our vision to design, manufacture and market sustainable solutions that help create a cleaner, safer and healthier world.
+Added: As of December 31, 2024, we had 4,632 employees worldwide, of which approximately 42.5% are located in the U.S.
+Added: Our employees are guided by our vision to design, manufacture and market sustainable solutions that help create a cleaner, safer and healthier world.
Ethics and Employee Safety
−Removed: Tennant Company has a commitment to our employees to foster and uphold a culture of integrity and stewardship.
−Removed: We ensure that our employees are not only aware of ethical standards, but actively contribute to maintaining them.
−Removed: As part of this commitment, Tennant conducts annual Code of Conduct training that empowers our staff with the knowledge and tools to make ethical decisions in their roles.
+Added: Tennant Company is committed to fostering and upholding a culture of integrity and stewardship among our employees, distributors, and other business partners.
+Added: We expect our employees not only to be aware of Tennant's ethical standards, but actively contribute to maintaining them.
+Added: Tennant has a Code of Conduct and other internal and public facing policies addressing ethics and compliance, and conducts annual Code of Conduct training to empower our employees with the knowledge and tools to make ethical decisions in their roles.
We understand the importance of fostering an environment where concerns can be raised without fear of reprisal.
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We focus on creating a high-performance culture, which includes our annual performance management process for all employees which aligns with our employee and leadership competency frameworks.
−Removed: To support employee development, we have deployed a number of resources including our philosophy and development tools for all employees via our intranet.
+Added: To support employee development, we have deployed a number of resources and development tools for all employees.
We also provide leaders access to on-demand eLearnings and targeted live training sessions.
In addition, we engage in annual talent conversations to help identify, develop, and deploy talent to achieve our objectives and address talent risks.
−Removed: We believe talent feedback is key to engagement and survey our employees regularly.
+Added: We believe employee feedback is key to engagement, and we survey our employees regularly.
Also, we provide other feedback and engagement avenues such as all-employee quarterly town halls and leadership meetings.
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The inclusion of diverse perspectives enables innovation and our ability to serve customers.
−Removed: We continue our DE&I focus through strategies which engage and educate our employees, promote inclusion, and drive effective governance.
+Added: We continue our DE&I focus through strategies which engage and educate our employees and promote inclusion.
Tennant Company proudly continues our commitment to be an equal opportunity employer.
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Tennant Company annually performs a gender wage gap for its United States employees that controls for title, grade and work location, which are legitimate and non-discretionary reasons for pay differences.
−Removed: The most recent assessment found that the median total income for females was 99.6% of the median total income for males, suggesting there is no evidence of a gender pay gap in the United States at Tennant Company.
+Added: recent assessment found that the median total income for females was 99.9% of the median total income for males, suggesting there is no evidence of a gender pay gap in the United States at Tennant Company.
Employee Gender Statistics
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The list below identifies those persons designated as executive officers of the Company, including their age, positions held with the Company and their business experience during the past five or more years.
−Removed: Barb Balinski, Senior Vice President, Innovation and Technology
−Removed: Barb Balinski (60) joined the Company in 2018 as Vice President of Engineering and in March 2021, she was named Senior Vice President, Innovation and Technology, leading Research & Development (R&D), Marketing, and Information Technology (IT) functions for Tennant Company.
+Added: Barb Balinski, Senior Vice President, Chief Transformation Officer
+Added: Barb Balinski (61) has served as the Company's Senior Vice President, Chief Transformation Officer since May 2024.
+Added: Balinski joined the Company in 2018 as Vice President of Engineering and in March 2021, she was named Senior Vice President, Innovation and Technology, leading Research & Development (R&D), Marketing, and Information Technology (IT) functions for Tennant Company.
Prior to joining Tennant, Ms.
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Prior to Whirlpool Corporation, she spent eleven years with Saturn Corporation, a subsidiary of General Motors.
+Added: Christianson, Senior Vice President, Chief Human Resources Officer
+Added: Christianson (55) joined the Company in November 2023 as Senior Vice President, Chief Human Resources Officer.
+Added: From 2017 to October 2023, Mr.
+Added: Christianson served in various Human Resources Vice President roles at Thrivent, a Fortune 500 financial services company.
+Added: He held senior positions at Honeywell International from 2011 to 2017, including global Vice President of HR for the Environmental, Combustion, and Controls business unit.
+Added: From 1998 to 2011, he worked at Medtronic, a global healthcare technology leader, where he held HR leadership roles in corporate, business units, and EMEA.
+Added: Prior to Medtronic, he held HR and consulting roles with Emerson Electric and Ernst & Young.
+Added: Erickson, Senior Vice President, General Counsel and Corporate Secretary
+Added: Erickson (52) has served as the Company's Senior Vice President, General Counsel and Corporate Secretary since December 2020.
+Added: Erickson joined the Company's legal department in April 2008, serving in roles of increasing responsibility, including as Vice President, Deputy General Counsel and Chief Compliance Officer from 2019 to 2020, and as Interim General Counsel and Corporate Secretary in 2020.
+Added: Prior to joining Tennant in 2008, she served as Senior Counsel and Assistant Secretary for MoneyGram International, Inc., from 2004 to 2008.
+Added: She started her career as a corporate attorney for Lindquist & Vennum, PLLP (n/k/a Ballard Spahr LLP).
Huml, President and Chief Executive Officer
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From 1992 to 2006, he held various positions with Graco Inc., a designer, manufacturer and marketer of systems and equipment to move, measure, control, dispense and spray fluid and coating materials, including Worldwide Director of Marketing, Contractor Equipment Division
−Removed: Erickson, Senior Vice President, General Counsel and Corporate Secretary
−Removed: Erickson (51) has served as the Company's Senior Vice President, General Counsel and Corporate Secretary since December 2020.
−Removed: Erickson joined the Company's legal department in April 2008, serving in roles of increasing responsibility, including as Vice President, Deputy General Counsel and Chief Compliance Officer from 2019 to 2020, and as Interim General Counsel and Corporate Secretary in 2020.
−Removed: Prior to joining Tennant in 2008, she served as Senior Counsel and Assistant Secretary for MoneyGram International, Inc., from 2004 to 2008.
−Removed: She started her career as a corporate attorney for Lindquist & Vennum, PLLP (n/k/a Ballard Spahr LLP).
+Added: Schottler, Senior Vice President, Chief Marketing and Technology Officer
+Added: Schottle r (45) has served as the Company's Senior Vice President, Chief Marketing and Technology Officer since May 2024.
+Added: Schottler joined the Company in 2011 as Senior Program Manager.
+Added: After holding leadership roles in R&D and regional business development, he was named Vice President and General Manager of the Asia-Pacific Business Unit in 2017, a role he held for five years before assuming responsibility for the Company's global marketing and product management functions in 2022.
+Added: Prior to joining Tennant Company, Mr.
+Added: Schottler spent over a decade at Honeywell, where he held leadership roles in product development.
Fay West, Senior Vice President, Chief Financial Officer
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From 1993 to 2006, he held various positions with Maytag Corporation, including Vice President, Jenn-Air Brand, Director of Marketing, Maytag Brand, and Director of Cooking Category Management.
−Removed: Christianson, Senior Vice President, Chief Human Resources Officer
−Removed: Christianson (54) joined the Company in November 2023 as Senior Vice President, Chief Human Resources Officer.
−Removed: From 2017 to October 2023, Mr.
−Removed: Christianson served in various Human Resources Vice President roles at Thrivent, a Fortune 500 financial services company.
−Removed: He held senior positions at Honeywell International from 2011 to 2017, including global Vice President of HR for the Environmental, Combustion, and Controls business unit.
−Removed: From 1998 to 2011, he worked at Medtronic, a global healthcare technology leader, where he held HR leadership roles in corporate, business units, and EMEA.
−Removed: Prior to Medtronic, he held HR and consulting roles with Emerson Electric and Ernst & Young.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.