Snap-on recently completed the buyout of Italy-based Ecotechnics S.p.A. (“Ecotechnics”) for $13 million in cash. The deal will likely be conducive to growth of the company’s Repair Systems & Information Group segment, says the analyst report from Zacks.com.
Ecotechnics, designer and manufacturer of maintenance equipment for automatic vehicle A/C, has become a popular name among modern auto repair shops across the world. In 2014, the company, with about 50 employees, recorded sales of roughly €12.4 million. Snap-on intends to integrate Ecotechnics into its Repair Systems and Information Group. However, the company’s name or location will not change past the acquisition.
Snap-on’s strategic acquisitions have supplemented the growth of its Repair Systems & Information Group segment in the past and the company’s previous acquisitions of Pro-Cut International, Inc. (in 2014) and Challenger Lifts, Inc. (2013) significantly contributed toward widening its vehicle repair facilities as well as service capabilities, apart from improving its partnerships with repair-shop owners and managers.
To read the report in its entirety, visit: http://www.zacks.com/stock/news/185774/snapon-set-to-boost-repair-segment-on-ecotechnics-buy
