KENOSHA, Wis.–(BUSINESS WIRE)–Snap-on Incorporated, a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks, today announced that it acquired Mountz for approximately $40 million in cash on November 1, 2023.
Based in San Jose, California, Mountz is a leading developer, manufacturer, and marketer of high-precision torque tools, including measurement, calibration, and documentation products. The acquisition of Mountz complements and expands Snap-on’s torque offerings to customers in a variety of industries including aerospace, transportation, and advanced manufacturing. Applications range from assembly of electric vehicle batteries to production of charging infrastructure to fabrication of microelectronic componentry, including chips. Mountz will be part of the company’s Commercial & Industrial Group.
About Snap-on
Snap-on Incorporated is a leading global innovator, manufacturer, and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks including those working in vehicle repair, aerospace, the military, natural resources, and manufacturing. From its founding in 1920, Snap-on has been recognized as the mark of the serious and the outward sign of the pride and dignity working men and women take in their professions. Products and services are sold through the company’s network of widely recognized franchisee vans, as well as through direct and distributor channels, under a variety of notable brands. The company also provides financing programs to facilitate the sales of its products and to support its franchise business. Snap-on, an S&P 500 company, generated sales of $4.5 billion in 2022, and is headquartered in Kenosha, Wisconsin.