Snap-on Acquires Challenger Lifts
Snap-on Incorporated announced that it has acquired Challenger Lifts, Inc. for approximately $38 million in cash. Challenger designs, manufactures, and distributes a comprehensive line of vehicle lifts and repair accessories.
Snap-on Incorporated, a manufacturer and marketer of tools, equipment, diagnostics, repair information, and systems solutions for professional users, announced that it has acquired Challenger Lifts, Inc. 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 in the automotive repair sector.
“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,” said Nick Pinchuk, Snap-on chairman and chief executive officer.
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