Kenosha-based tool manufacturer Snap-on Inc. has acquired Challenger Lifts Inc. for about $38 million in cash.
Challenger manufactures car lifts, jacks and auto accessories at a 140,000-square-foot facility in Louisville, Ky. It had about $45 million in sales for 2012.
“Challenger is an important addition to our Repair Systems & Information Group,” said Nick Pinchuk, chairman and CEO. “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.”
Snap-on was founded in 1920 and has $2.9 billion in sales. It is headquartered in Kenosha and has a global presence.
