Snap-on Incorporated, a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced that it has entered into a definitive agreement to acquire Car-O-Liner. Snap-on is a $3.4 billion, S&P 500 company headquartered in Kenosha, Wisconsin, offering products and services that are available around the world.
Nick Pinchuk, Snap-on Chairman and CEO explains, "Car-O-Liner’s product offering and special expertise are important additions to our Repair Systems & Information Group, bringing greater capabilities in collision repair and strengthening Snap-on’s position in the heavy duty segment. Given trends in the collision space, including the need for greater precision, the requirement to accommodate new materials and the higher emphasis on shop efficiency, 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 Car-O-Liner associates to the Snap-on family."
Car-O-Liner was acquired by Polaris Private Equity 2012. The company has increased its dominance in offering collision
repair and wheel alignment/frame straightening solutions to the passenger and commercial vehicle aftermarket.
Mikael Jonson, CEO of Car-O-Liner expands, "Car-O-Liner, under ownership of Polaris, is pleased to have reached many of its strategic and development goals. Our global expansion and strategic shift from being not only a provider of hardware to the collision repair industry but also a provider of information and knowledge has exceeded our expectations. Now, under leadership of Snap-on Incorporated, we look forward to continued expansion and increased dedication to developing innovative collision repair solutions that lead to safer repairs."