M&A Deal Summary

Snap-on Acquires Challenger Lifts

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

Acquisition Highlights
  • This is Snap-on’s 5th transaction in the Machinery sector.
  • This is Snap-on’s 8th 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
Sector Machinery
Buyer(s) Snap-on
Sellers(s) Gen Cap America
Deal Type Add-on Acquisition
Deal Value 38M USD

Target

Challenger Lifts

Louisville, Kentucky, United States
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

Kenosha, Wisconsin, United States

Category Company
Founded 1920
Sector Machinery
Employees13,200
Revenue 5.1B USD (2023)
DESCRIPTION
Entrance to Snap-on's corporate headquarters in Kenosha, Wisconsin.
Entrance to 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 16
Sector (Machinery) 5 of 8
Type (Add-on Acquisition) 4 of 14
State (Kentucky) 1 of 1
Country (United States) 4 of 9
Year (2013) 1 of 1
Size (of disclosed) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-01 Central Purchasing

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

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

Nashville, Tennessee, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 250M USD
Size Small
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 $10 to $200 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 29
Sector (Machinery) 2 of 3
Type (Add-on Acquisition) 4 of 14
State (Kentucky) 1 of 2
Country (United States) 6 of 29
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Avanti

Weston, Florida, United States

Avanti 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 was founded in 2012 and is based in Weston, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-20 Renaissance

Harvard, Massachusetts, United States

Renaissance is a designer and producer of high-reliability passive and active radio frequency (RF) and millimeter-wave frequency (mmW) components, sub-systems, and higher-order assemblies, primarily serving the custom needs of the defense and commercial markets. Renaissance’s engineered solutions have applications across a wide spectrum ranging from DC to 325GHz and their products are used in radars, defense, and communication systems that rely on optimized bandwidth and range. Renaissance was founded in 1991 and is based in Harvard, Massachusetts.

Buy -