Car-O-Liner sold in $155m deal
Snap-on Incorporated is acquiring Car-O-Liner for $155m. The deal is expected to be complete within 30 days.
Car-O-Liner is a leading global provider of collision repair equipment and information and truck alignment systems while Snap-on develops and sells tools, equipment, diagnostics, repair information and systems solutions.
Nick Pinchuk, Snap-on chairman and CEO, said, ‘Car-O-Liner’s product offering and special expertise are important additions to our repair systems and 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.’