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.”

Last year, the US-based vehicle lift manufacturer generated some $45 in sales. Upon announcing the change of ownership to its customers, Challenger Lifts said it will continue to manufacture lifts at its Louisville, Kentucky site and retain its corporate office there, its staff will remain the same, and its product range and pricing will remain unchanged.