Riverwater Partners Sold Tennant Company (TNC) Due to ERP Implementation Failure

Riverwater Partners Sold Tennant Company (TNC) Due to ERP Implementation Failure Soumya Eswaran Wed, May 6, 2026 at 8:00 PM GMT+7 2 min read TNC Riverwater Partners, an investment management company, released its “Small Cap Strategy” Q1 2026 investor letter. A copy of the letter can be downloaded here. In Q1 2026, the Riverwater Small Cap Strategy outperformed the Russell 2000 Index. The quarter rewarded patience and discipline. The first quarter of 2026 saw a significant shift in market leadership and risk perceptions, due to geopolitical tensions in the Middle East and concerns over sustainable growth in the software and AI sectors. Additionally, private credit markets are under stress. In this environment, the firm is concentrating on identifying market dislocations caused by what it perceives as indiscriminate selling, particularly in AI-related areas. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.

In its first-quarter 2026 investor letter, Riverwater Partners Small Cap Strategy highlighted stocks like Tennant Company (NYSE:TNC). Tennant Company (NYSE:TNC) is a leading manufacturer and marketer of floor cleaning equipment that offers manual and autonomous mechanized cleaning equipment for industrial and commercial use. On May 5, 2026, Tennant Company (NYSE:TNC) closed at $82.63 per share. One-month return of Tennant Company (NYSE:TNC) was 10.45%, and its shares gained 16.74% over the past 52 weeks. Tennant Company (NYSE:TNC) has a market capitalization of $1.41 billion.

Riverwater Partners Small Cap Strategy stated the following regarding Tennant Company (NYSE:TNC) in its Q1 2026 investor letter: