KENOSHA, Wis. (May 30, 2014) — Auto service tool maker Snap-on Inc. has acquired substantially all of the assets of Pro-Cut International Inc. for about $42 million.
Pro-Cut, with 2013 sales of about $24 million, designs, manufactures and distributes on-car brake lathes, related equipment and accessories used in brake servicing by auto repair facilities.
“Pro-Cut’s advanced brake servicing product line enhances and increases Snap-on’s offering of productivity solutions for vehicle repair facilities, including independent shops, national service chains and OEM dealerships,” said Nick Pinchuk, Snap-on chairman and CEO.
“We believe Pro-Cut will be an important addition to our Repair Systems & Information Group and will help us move further along our coherent growth runway of expanding with repair shop owners and managers. We look forward to welcoming Pro-Cut associates to the Snap-on family.”
Snap-on is a $3.1 billion company based in Kenosha that offers tools, equipment, diagnostic hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers.
With the threat of more tariffs looming, how concerned are you about a trade war?
|Very. It could lead to another recession.||
37% (53 votes)
|It will be good for the U.S.||
19% (27 votes)
|It’s too early to tell.||
31% (44 votes)
|We have bigger problems than this.||
13% (19 votes)
|Total votes: 143|