Snap-on Acquires Challenger Lifts
May 17, 2013—Snap-on Inc. recently acquired Challenger Lifts Inc. in an all-cash transaction for roughly $38 million.
Challenger Lifts, based in Louisville, Ky., designs, manufactures and distributes a line of car lifts, jacks and auto lift accessories. Challenger generated sales of approximately $45 million in 2012.
“Challenger is an important addition to our Repair Systems & Information Group,” said Nick Pinchuk, CEO of Snap-on. “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.”