KENOSHA, Wis., May 14, 2013 -- Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced that it has acquired Challenger Lifts, Inc. (“Challenger”) for approximately $38 million in cash. Challenger, with 2012 sales of approximately $45 million, designs, manufactures and distributes a comprehensive line of vehicle lifts and accessories to a diverse customer base in the automotive repair sector.
“Challenger is an important addition to our Repair Systems & Information Group,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “The Challenger vehicle lift product line complements and increases Snap-on’s existing undercar equipment offering, broadening our established capabilities in serving vehicle repair facilities. We believe this acquisition will further Snap-on’s progress along its strategic and coherent growth runway of expanding with repair shop owners and managers. We look forward to welcoming Challenger associates to the Snap-on family.”
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