Snap-on to acquire Sturtevant Richmont

Illinois manufacturer to be part of commercial and industrial tools group

Last updated on July 7th, 2019 at 02:23 pm

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Kenosha-based Snap-on Inc. will acquire Illinois-based Sturtevant Richmont for approximately $13 million in cash, the company announced Thursday.

Headquartered in Carol Stream, Illinois, Sturtevant Richmont designs, manufactures and distributes mechanical and electronic toque wrenches along with wireless toque error proofing systems for a variety of industrial applications. The company has annual sales of roughly $10 million.

The new company will be part of Snap-on’s commercial and industrial tool group, a segment that had almost $1.2 billion in sales in fiscal 2015.

Snap-on said the acquisition would enhance and expand its capabilities in providing solutions to address torque requirements, “which are increasingly essential to critical mechanical performance.”

Sturtevant Richmont has approximately 50 employees and the company will continue operating at its Carol Stream facility, according to Snap-on spokesman Rich Secor.

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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