Snap-on acquired the assets of AutoCrib for approximately $36 million in cash.
Based in Tustin, CA, with 2019 sales of approximately $30 million, AutoCrib is a designer, manufacturer and marketer of tool and asset control solutions. The company’s product line, in combination with its asset tracking software, authors customized systems that aim to ensure accountability, control and accuracy for a range of industries. AutoCrib will be part of Snap-on’s commercial and industrial group, effective with Snap-on’s 2020 fiscal fourth quarter. The acquisition complements and expands Snap-on’s existing tool control offering to customers in a variety of industrial applications, including aerospace, automotive, military, natural resources and general industry applications.
Snap-on is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The company’s products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including the aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education industries. Snap-on also derives income from various financing programs to facilitate the sales of its products and support its franchise business.
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