Kenosha-based tool manufacturer Snap-on Inc. has acquired substantially all of the assets of Pro-Cut International Inc. for about $42 million in cash.
West Lebanon, N.H.-based Pro-Cut manufactures brake repair equipment. The company had about $24 million in 2013 sales and 50 employees, all of whom will be retained at the existing location.
“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 chief executive officer. “We believe Pro-Cut will be an important addition to our repair systems and 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 provides tools, equipment, diagnostics and repair information and systems solutions for professionals completing crucial tasks in the vehicle sales and repair, aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education industries. The company is worth $3.1 billion and has about 11,300 employees worldwide.