Snap-on Acquires U.K.-Based Norbar Torque Tools

Acquired for $72 million, Norbar is a European supplier of a full range of torque products and has annual sales of approximately $41 million.

KENOSHA, WI — Tool-maker Snap-on announced Thursday announced that it has acquired Norbar Torque Tools Holdings Limited, along with its U.S. and Chinese joint ventures, for approximately $72 million.

Based in Banbury, United Kingdom, with annual sales of approximately $41 million, Norbar is a European manufacturer of a full range of torque products, including wrenches, multipliers and calibrators 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, complements and expands Snap-on’s existing torque offering to critical industries, particularly in powered torque products.

More in Mergers & Acquisitions