KENOSHA, Wis. (May 14, 2013) — Tool and equipment maker Snap-on Inc has acquired Challenger Lifts Inc.
The deal is for approximately $38 million in cash. Louisville, Ky.-based Challenger, which has been in the marketplace for more than 28 years, had 2012 sales of about $45 million. The company designs, manufactures and distributes vehicle lifts and accessories to the automotive repair sector.
"Challenger is an important addition to our Repair Systems & Information Group," said Nick Pinchuk, Snap-on chairman and CEO.