What is Tennant doing? $TNC (-1,08%)

Tennant is a global manufacturer of cleaning machines and systems. The portfolio includes, among other things:

• scrubber dryers
• Sweepers (manual and autonomous)
• High pressure cleaners
• Cleaning chemicals
• Robotic solutions for professional cleaning (e.g. autonomous floor cleaners)

The company primarily serves business customers: Industry, logistics, retail, airports, hospitals and building cleaning.

Investment Case:

• Solid business model with recurring revenues (e.g. service & maintenance)
• Focus on innovation (e.g. autonomous cleaning solutions with AI)
• Long-term growing market due to urbanization and hygiene requirements
• Dividend payer with continuous distribution

Risks:

• Cyclical demand (depending on customers' willingness to invest)
• Competitive pressure (e.g. Nilfisk, Kärcher, various Chinese suppliers)
• Dependence on the industrial sector, partial price pressure for large orders

What is your assessment? For me, the share currently seems to be attractively valued for a long-term investment. The dividend growth in recent years is also interesting.