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Tool manufacturer Snap-on Inc. (NYSE: SNA), Kenosha, WI, has acquired Pro-Cut International Inc. for approximately $42 million in cash. Pro-Cut, with 2013 sales of $24 million, designs, manufactures and distributes on-car brake lathes, related equipment and accessories.
“Pro-Cut’s advanced brake servicing product line enhances and increases Snap-on’s offering of productivity solutions for vehicle repair facilities, including independent shops, national service chains and OEM dealerships,” said Snap-on CEO Nick Pinchuk. “We believe Pro-Cut will be an important addition to our repair systems and information group and will help us move further along our coherent growth runway of expanding with repair shop owners and managers.”