Snap-on Incorporated 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 an 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 and gas, mining and railroad.
The acquisition of Norbar, which will be part of the company’s Commercial and Industrial Group, complements and expands Snap-on’s existing torque offering to critical industries, particularly in powered torque products.
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