Snap-on acquires Challenger Lifts for $38 million

Special to The Freeman

May 14, 2013


KENOSHA – Snap-on Incorporated announced Tuesday it has acquired Challenger Lifts, Inc. for about $38 million in cash.

Snap-on is an innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and system solutions for professional users. Challenger designs, manufactures and distributes a comprehensive line of vehicle lifts and accessories to the automotive repair sector. It had sales of about $45 million in 2012, according to a company statement.

“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.”

Founded in 1920, Snap-on is a $2.9 billion, S&P 500 company headquartered in Kenosha.