Snap-on buys Challenger Lifts
Equipment manufacturer and supplier Snap-on Incorporated has acquired Challenger Lifts for approximately US$38 million in cash. Reporting the purchase, Snap-on chairman and chief executive officer Nick Pinchuk stated “Challenger is an important addition to our Repair Systems & Information Group. 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.”