Tool manufacturer Snap-on Inc. (NYSE: SNA), Kenosha, WI, has acquired Norbar Torque Tools Holdings Limited along with its U.S. and Chinese joint ventures for $72 million.
Based in Banbury, United Kingdom, with annual sales of $41 million, Norbar is a manufacturer of torque products and has a strong presence in critical industries, including power generation, oil & gas, mining and railroad. The acquisition of Norbar, which will be part of the company’s Commercial & Industrial Group, expands Snap-on’s existing torque offering to critical industries, particularly in powered torque products.
