Tennant Company (NYSE:TNC) signed a definitive agreement to acquire Hefei Gaomei Cleaning Equipment Company Ltd on September 24, 2018. Hefei Gaomei Cleaning Equipment Co., Ltd. is a family run business. Post completion, Hefei Gaomei Cleaning Equipment Company Ltd will continue to operate and compete independently. Completion is expected to take place during fourth quarter of 2018. Tennant Company (NYSE:TNC) completed the acquisition of Hefei Gaomei Cleaning Equipment Company Ltd on January 4, 2019. In addition, Tennant also acquired Anhui Rongen Environmental Protection Technology Co., Ltd and the total consideration for both the acquisitions consists of $11.3 million paid at the time of closing, $11.3 million will b paid in January 2020, the remaining purchase price of $4.3 million is based on a probability-weighted scenario analysis of achieving certain levels of gross profit growth over a three year period and consideration of $0.0 million to $42.4 million will be paid in March 2021 if the gross profit growth targets are met.