Snap-on, Inc., has acquired Norbar Torque Tools Holdings Limited along with its U.S. and Chinese joint ventures, ("Norbar") for approximately $72 million.
Based in Banbury, United Kingdom, Norbar is a 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 and gas, mining and railroad.
Snap-on will add Norbar to the company's Commercial & Industrial Group to expand Snap-on's existing torque offerings.
Original author: Maggie Lancaster, assistant editor