Snap-on Acquires AutoCrib, Inc.
Snap-on acquired the assets of AutoCrib, Inc. for approximately $36 million in cash on September 28, 2020. AutoCrib, with 2019 sales of about $30 million, is known for its tool and asset control solutions. The acquisition will enhance Snap-on's Commercial & Industrial Group, expanding its tool control offerings across various sectors, including aerospace and automotive. The integration is set to begin in Snap-on's 2020 fiscal fourth quarter.
- Acquisition of AutoCrib enhances Snap-on's tool control product line.
- AutoCrib generated approximately $30 million in sales in 2019.
- Strategic expansion into diverse industries including aerospace, automotive, and military.
- None.
KENOSHA, Wis.--(BUSINESS WIRE)--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 acquired the assets of AutoCrib, Inc. (“AutoCrib”) for approximately
Based in Tustin, California, with 2019 sales of approximately
About Snap-on
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products and support its franchise business. Products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a
Forward-looking Statements
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