Snap-on Inc. has acquired Challenger Lifts Inc. in a $38 million deal.
Louisville-based Challenger Lifts produces and sells a range of in-ground and above-ground automotive lifts, as well as mobile, home garage and motorcycle lifts and lift accessories. The company posted 2012 sales of some $45 million.
“Challenger is an important addition to our Repair Systems & Information Group,” said Nick Pinchuk, Snap-on chairman and CEO. “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.”
The 28-year-old Challenger Lifts operates a 140,000-square-foot manufacturing facility in Louisville.
