Tennant Company Plans Move to New Headquarters in First Half 2020
March 07 2019 - 9:00AM
Business Wire
Cleaning equipment manufacturer will usher
in 150th year with new headquarters in Eden Prairie,
Minn.
Golden Valley site to become dedicated
manufacturing and engineering campus
Tennant Company (“Tennant”) (NYSE: TNC), a world leader in
designing, manufacturing and marketing of solutions that help
create a cleaner, safer, healthier world, announced today that it
will move its corporate headquarters from Golden Valley, Minn., to
Eden Prairie, Minn., in the first half of 2020. The company will
continue to maintain a significant presence in Golden Valley,
including the company’s largest manufacturing facility and global
innovation center. The new headquarters will be located in an
existing building on a 40-acre campus at 3 Capital Drive, Eden
Prairie.
The move will enable bringing together roughly 500 employees who
are currently spread among three separate buildings on the
company’s Golden Valley campus at the intersection of Highways 100
and 55. Roughly 700 employees will remain working in Golden
Valley.
“Now is the right time for a move. We’re at capacity for office
space on our Golden Valley campus, limiting our options for how to
use our existing facilities. This move creates the ability to
optimize our Golden Valley location to be a dedicated manufacturing
and engineering campus,” said Chris Killingstad, President and CEO
of Tennant Company.
“Over the years, Tennant has thoughtfully and prudently managed
investments in our facilities. This approach has served us well,”
said Killingstad. “Ultimately, we determined that purchasing an
existing property and consolidating several locations into one was
the most fiscally responsible choice for Tennant employees and
shareholders.
“This is an exciting milestone for Tennant as we anticipate
moving in to our new headquarters in what will be our 150th year in
business,” noted Killingstad. “We can’t think of a better way to
celebrate our longevity in business than by moving into our new
headquarters and ushering in a new era for our company.”
Prior to selecting the campus in Eden Prairie, the company
evaluated several other options, including building a new building
on its current Golden Valley site.
Tennant Company’s partners in this transaction include Oppidan
Investment Company and Gensler, an architecture, interior design
and planning firm. A purchase price was not disclosed.
Company ProfileFounded in
1870, Tennant Company (TNC), headquartered in Minneapolis,
Minnesota, is a world leader in designing, manufacturing and
marketing solutions that empower customers to achieve quality
cleaning performance, reduce their environmental impact and help
create a cleaner, safer, healthier world. Its products include
equipment for maintaining surfaces in industrial, commercial and
outdoor environments; detergent-free and other sustainable cleaning
technologies; cleaning tools and supplies; and coatings for
protecting, repairing and upgrading surfaces. Tennant's global
field service network is the most extensive in the industry.
Tennant Company had sales of $1.12 billion in 2018 and has
approximately 4,300 employees. Tennant has manufacturing operations
throughout the world and sells products directly in 15 countries
and through distributors in more than 100 countries. For more
information, visit www.tennantco.com and www.ipcworldwide.com. The
Tennant Company logo and other trademarks designated with the
symbol “®” are trademarks of Tennant Company registered in the
United States and/or other countries.
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version on businesswire.com: https://www.businesswire.com/news/home/20190307005114/en/
INVESTOR CONTACT:Keith WoodwardSenior Vice President and Chief
Financial Officerkeith.woodward@tennantco.com763-540-1205
MEDIA CONTACT:Kathryn LovikGlobal Communications
Directorkathryn.lovik@tennantco.com763-540-1212
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