About the Company
Headquartered in Kenosha, Wisconsin, Snap-on Incorporated is engaged in the manufacture and marketing of tools and equipment primarily for the transportation industry. Moreover, it also provides diagnostics, repair information and systems solutions. Snap-on Inc. shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol “SNA”. The operations of the company are segregated into the following divisions: Commercial and Industrial Group, Snap-on Tools Group, Financial Services and the Repair Systems & Information Group.
The first division is engaged in the provision of tools and solutions to a wide range of commercial and industrial clients belonging to the aerospace, government, transportation, power generation and technical education sectors. The operations of the Snap-on Tools Group primarily fulfil the requirements of the vehicle repair technicians. The Financial Services division conducts operations through its financial subsidiaries, such as Snap-on Investment Limited and Snap-on Credit LLC. The Repair Systems & Information Group comprises business operations that cater to vehicle repair customers, independent vehicle repair shops and more. A major portion of its revenue comes from financing programs that boost the sales of its products and services. Some of the most noteworthy subsidiaries of Snap-on Inc. include J.H. Williams Tool Group, IDSC Holdings LLC, Norbar Torque Tools, Snap-on Business Solutions Inc, Snap-on Tools Company LLC, Snap-on Tools B.V., and Sioux Tools Inc.
The products and services of SNA include tool storage facility, diagnostic software, information & management systems, etc. These are provided to the customers directly or via its network of franchisees, distributors and internet channels. In 1920, Joseph Johnson and Bill Seidmann founded SNA as Snap-on Wrench Company in Milwaukee, Wisconsin. Since its inception, SNA has acquired more than 10 companies. SNA acquired J.H. Williams Tool Group in 1993, and six years later, it purchased Bahco, a hand tool brand based in Sweden. Snap-on Inc. completed its largest acquisition in 2006 when it acquired ProQuest Business Solutions, a provider of e-commerce applications and electronic content for approximately $499 million. Automotive and machinery are two of the most targeted sectors of SNA. In 2014, SNA announced that it had acquired Pro-Cut for an estimated $42 million.
Two years later, it acquired Car-O-Liner Holding AB, a collision repair tool company based in Sweden for approximately $155 million. In 2020, the company purchased AutoCrib, Inc. for approximately $36 million. In 2018, Snap-on Tools received 14 awards at the annual Professional Tools and Equipment News People’s Choice Awards. Next year, it ranked 167th on Forbes’ list of the World’s Best Employers. In 2020, it was ranked 1861st on the Forbes Global 2000 list. In the same year, it was also included in Forbes’ list of America’s Best Employers by State.;
|Tools & Accessories