Snap-on acquired Norbar Torque Tools Holdings, along with its U.S. and Chinese joint ventures, for approximately $72 million.

Based in the UK, with annual sales of approximately $41 million, Norbar is a European manufacturer of a full range of torque products, including wrenches, multipliers and calibrators and has a strong presence in critical industries, including power generation, oil and gas, mining and railroad. The acquisition of Norbar will be part of the Snap-on’s commercial and industrial group.

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions.