Snap-on acquires Power Hawk Technologies, Inc.
KENOSHA, Wis. — Snap-on Incorporated (NYSE: SNA), 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 has acquired Power Hawk Technologies, Inc. (“Power Hawk”) for approximately $8 million in cash. Based in Rockaway, New Jersey, Power Hawk designs, manufactures and distributes rescue tools and related equipment for a variety of military, governmental, and fire, rescue and emergency operations. Power Hawk will be part of the company’s Commercial & Industrial Group. The acquisition enhances and expands Snap-on’s capabilities in providing solutions that make work easier for serious professionals who apply their skills in workplaces of consequence, where the costs and penalties of failure are high.
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. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products. Products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.7 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
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