Further Expands Offering of Tool Control and Productivity Solutions for Critical Industries
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 $36 million in cash on September 28, 2020.
Based in Tustin, California, with 2019 sales of approximately $30 million, AutoCrib is a leading designer, manufacturer and marketer of tool and asset control solutions. The company’s diverse product line, in combination with its flexible asset tracking software, authors customized systems that ensure accountability, control and accuracy for a wide range of critical industries. AutoCrib will be part of the company’s Commercial & Industrial Group, effective with Snap-on’s 2020 fiscal fourth quarter. The acquisition complements and expands Snap-on’s existing tool control offering to customers in a variety of industrial applications, including aerospace, automotive, military, natural resources and general industry.
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 $3.7 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
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