M&A Deal Summary

Snap-on Acquires Challenger Lifts

On May 15, 2013, Snap-on, Inc. acquired machinery company Challenger Lifts, Inc. from Gen Cap America, Inc. for 38M USD

Acquisition Highlights
  • This is Snap-on’s 5th transaction in the Machinery sector.
  • This is Snap-on’s 7th largest (disclosed) transaction.
  • This is Snap-on’s 4th transaction in the United States.
  • This is Snap-on’s 1st transaction in Kentucky.

M&A Deal Summary

Date 2013-05-15
Target Challenger Lifts, Inc.
Sector Machinery
Buyer(s) Snap-on, Inc.
Sellers(s) Gen Cap America, Inc.
Deal Type Add-on Acquisition
Deal Value 38M USD

Target

Challenger Lifts, Inc.

Louisville, Kentucky, United States
website
Challenger Lifts specializes in the design, manufacture and distribution of a comprehensive line of automotive lifts, jacks and accessories. Challenger sells its products through a nationwide authorized distributor network. Quality Lifts sells the same types of lifts to the residential/consumer market. Challenger and Quality are headquartered in Louisville, Kentucky and were founded in 1983 and 2001, respectively.

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Buyer(S) 1

Buyer

Snap-on, Inc.

Kenosha, Wisconsin, United States

website


Category Company
Founded 1920
SectorMachinery
Employees12,300
Revenue 3.9B USD (2020)
DESCRIPTION
Snap-on's corporate headquarters in Kenosha, Wisconsin.
Snap-on's corporate headquarters in Kenosha, Wisconsin.

Snap-on is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. Snap-on was founded in 1920 and is based in Kenosha, Wisconsin.


DEAL STATS #
Overall 6 of 15
Sector (Machinery) 5 of 8
Type (Add-on Acquisition) 4 of 13
State (Kentucky) 1 of 1
Country (United States) 4 of 8
Year (2013) 1 of 1
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-01 Central Purchasing, Inc.

Camarillo, California, United States

Founded in 1977, Harbor Freight Tools is the leading discount tool retailer in the U.S. selling great quality tools at "ridiculously low prices" in over 500 stores nationwide and on its website www.harborfreight.com. Harbor Freight Tools stocks over 7,000 items in categories including automotive, air and power tools, shop equipment and hand tools. With a commitment to quality and a lifetime guarantee on all hand tools, Harbor Freight Tools is a favorite of automotive and truck repair shops, government agencies, schools, manufacturers, contractors and tool enthusiasts who want top-quality and great selection and value. The results speak for themselves - with over 25 million customers nationwide and thousands of people switching to Harbor Freight Tools every day..

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-30 Pro-Cut International LLC

West Lebanon, New Hampshire, United States

Pro-Cut International LLC is a designs, manufactures and distributes on-car brake lathes, related equipment and accessories used in brake servicing by automotive repair facilities.

Buy $42M

Seller(S) 1

SELLER

Gen Cap America, Inc.

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 250M USD
SizeSmall
Type Sector Agnostic
DESCRIPTION

Gen Cap America, Inc. is a private investment firm focused on acquisitions and recapitalization of mid-sized businesses. Gen Cap looks to invest in privately held companies or non-core divestitures generating $5 to $100 million in annual revenues. Gen Cap prefers businesses operating in basic industries, such as manufacturing, distribution, and services. The Firm avoids investing in real estate or 'high-tech' businesses. Gen Cap America was formed in 1988 and is based in Nashville, Tennessee.


DEAL STATS #
Overall 6 of 21
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 4 of 11
State (Kentucky) 1 of 2
Country (United States) 6 of 21
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Avanti Products LLC

Miami, Florida, United States

Avanti Products LLC is a designer and distributor of compact consumer appliances, specializing in refrigerators, wine and beer coolers, microwaves, gas and electric ranges, water dispensers, laundry machines and other compact appliances. Avanti Products LLC was founded in 2012 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-20 Renaissance Electronics & Communications LLC

Harvard, Massachusetts, United States

Founded in 1991, Renaissance Electronics and Communications, LLC (REC) and its wholly owned subsidiary HXI provide RF, Microwave and Millimeter Wave solutions for Military and Commercial applications.

Buy -