Snap-on Acquires Pro-Cut International

Snap-on Incorporated announced that it has acquired substantially all of the assets of Pro-Cut International, Inc. (“Pro-Cut”) for approximately US$42 million in cash. Pro-Cut, with 2013 sales of approximately US$24 million, designs, manufactures and distributes on-car brake lathes, related equipment and accessories used in brake servicing by automotive repair facilities.

 “Pro-Cut’s advanced brake servicing product line enhances and increases Snap-on’s offering of productivity solutions for vehicle repair facilities, including independent shops, national service chains and OEM dealerships,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “We believe Pro-Cut will be an important addition to our repair systems and information group and will help us move further along our coherent growth runway of expanding with repair shop owners and managers. We look forward to welcoming Pro-Cut associates to the Snap-on family.”