Snap-on acquires tool and asset control solutions provider AutoCrib and AutoCrib Germany
In September 2020, Snap-on Inc. acquired tool manufacturer and asset control solutions provider AutoCrib Inc. for approximately $36.0 million. AutoCrib reported sales of $30.0 million in 2019. AutoCrib’s manufacturing and asset tracking systems contributes to Snap-on’s Commercial and Industrial Group. This segment accounted for 27.0% of company revenue in 2021. Tools and asset control systems contributed to the 18.0% growth in tools revenue from 2020 to 2021. In 2021, Snap-on acquired AutoCrib Germany, a provider of asset and tool control solutions for automotive, aerospace and military industries, for $4.4 million.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
Lorem Ipsum text header Report Title
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas non leo lacinia, consectetur ipsum non, pretium augue. Vestibulum accumsan dignissim massa, eu scelerisque mi malesuada ut. Aliquam scelerisque facilisis nisl ac varius. Nunc luctus nunc vel eros iaculis, vitae tristique ante fringilla. Ut vitae vulputate est, vel lacinia nisi. Curabitur eget nulla vitae mi faucibus imperdiet. Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.
Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.