Snap-on

Snap-on Incorporated is an American designer, manufacturer and marketer of high-end tools and equipment for professional use in the transportation industry including the automotive, heavy duty, equipment, marine, aviation, and railroad industries. Snap-on also distributes lower-end tools under the brand name Blue-Point. Their primary competitors include Matco, Mac Tools, Cornwell Tools, and Ko-Ken Tools.

Snap-on Incorporated
TypePublic
IndustryManufacturing
Founded1920 (1920)
Milwaukee, Wisconsin
FounderJoseph Johnson
Bill Seidemann
Headquarters
Kenosha, Wisconsin, U.S.
Key people
 Nicholas T. Pinchuk, Chairman CEO
Aldo J. Pagliari, CFO
ProductsProfessional Automotive and Industrial Tools and Equipment
Revenue $4.210 billion (2021)
$0.546 billion (2016)
Total assets $6.581 billion (2021)
Total equity $2.617 billion (2016)
Number of employees
12,600 (2017)
Websitesnapon.com
Snap-on walk-in dealer van, Westland, Michigan
A Snap-on ratcheting screwdriver

Operations

Snap-on Inc. operates plants in Milwaukee, Wisconsin, Elizabethton, Tennessee, and Elkmont, Alabama. Pneumatic and cordless tools are manufactured in Murphy, North Carolina. Wheel balancers and tire changers are produced in Conway, Arkansas. Torque products are made and assembled in City of Industry, California.[1] The company manufactures tool storage cabinets in its Algona, Iowa plant.[2]

Snap-on produces hand-held electronic diagnostic tools for the computer systems used in most modern cars and heavy duty vehicles, produced in the US at their Kenosha site, along with software development in the US, Ireland, Australia, Mexico, Brazil and China, as well as automotive emissions control diagnostics equipment in its San Jose, California diagnostic facility. Snap-on diagnostic products are sold in Europe and Brazil under the name Sun.

Sales approach

Snap-on tools are sold only by dealers and not in retail stores. Snap-on has always maintained the philosophy that the customer's time was too valuable to spend going shopping for tools. Snap-on franchisees visit their customers in their place of work, once weekly, in a van loaded with items for purchase.

The Snap-on TechKnow Express is a van that showcases everything Snap-on has to offer in the realm of diagnostic equipment, and the Rock 'n Roll Cab Express is a truck with various types of tool storage showing customization options, including units larger than what can fit on a standard franchisee van. These trucks are typically assigned to a particular region and work within that region with individual franchisees.

History

Snap-on was founded as the Snap-on Wrench Company in Milwaukee, Wisconsin in 1920 by Joseph Johnson and William Seidemann. The business manufactured and marketed ten sockets that would "snap on" to five interchangeable handles. The company's slogan was "5 do the work of 50".[3] In 1930, the company's headquarters moved to Kenosha, Wisconsin.[4][5]

After World War II, Stanton Palmer advertised for a military officer to organize and develop a larger sales force for the expected post war sales boom.[6] Newton Tarble was hired, and came up with the idea of developing routes for company dealers to see mechanics on a weekly basis. Eventually these salesmen became independent businessmen and authorized dealers using larger walk in vans to carry a growing product line.

The company opened their wrench forging plant in Elizabethton, Tennessee in 1974.[7] The next year, Snap-on opened a manufacturing plant in Johnson City, Tennessee and closed the plant in 2007.[8]

In 1998, workers at the company's Milwaukee plant voted to join the Teamsters labor union[9] and In 2013, the company expanded the facility.[10]

In 2010, the Murphy, North Carolina plant was named one of the top 10 plants in North America by Industry Week.[11] In 2011, J.H. Williams & Co was officially renamed Snap-on Industrial Brands.

Acquisitions

In 2014, the company acquired New Hampshire-based Pro-Cut for $42 million.[12]

In October 2016, the company acquired Car-O-Liner Holding AB, a Swedish collision repair tool company, for $155 million. Later that year, the company acquired Sturtevant Richmont for $13 million.[13]

In May 2017, the company acquired Norbar Torque Tools Holdings Limited for $72 million.[14]

In September 2020, the company acquired AutoCrib Inc. based in Tustin, California for $36 million.[15]

Racing sponsorships

The company has sponsored Penske Racing teams in the NASCAR Cup Series and Xfinity Series as well as IndyCar. The first driver Snap-on became associated with was Rick Mears in 1979. Since 1992, Snap-on has sponsored Cruz Pedregon. In 2004, the company began sponsoring Cruz’s brother Tony Pedregon. Snap-on has also sponsored Repsol Honda Team in MotoGP since 1998.[16]

Snap-on sponsored NHRA drag racer Doug Herbert from 1992 until 2008.[17] For the 2010 racing season, the company sponsored Penske Racing.[18]

References
  1. 2017 Snap on catalog pg 1
  2. "Snap-on to expand in Algona". Globe Gazette. Retrieved 2021-12-15.
  3. Snap-on Museum Experience
  4. Rovito, Rich (2020-04-27). "Is It Still Made in Wisconsin?". Milwaukee Magazine. Retrieved 2022-04-13.
  5. "Snap-On timeline". Kenosha News. Retrieved 2022-04-13.
  6. "Snap On, Incorporated". March 21, 2021.
  7. jthompson@johnsoncitypress.com, John Thompson Elizabethton Bureau Chief. "Snap-on plant in Elizabethton joins in company's centennial celebration". Johnson City Press. Retrieved 2021-12-09.
  8. KEELING, JEFF. "Snap-on Tools closing Johnson City plant - 150 to lose job; Elizabethton Plant to continue operations". timesnews.net. Retrieved 2021-12-09.
  9. Gallun, Alby (September 6, 1998). "Snap-on workers vote to join Teamsters". American City Business Journals.
  10. Lockwood, Denise (December 18, 2013). "Snap-on expands Milwaukee hand tool facility". American City Business Journals.
  11. Jusko, Jill (2010-12-14). "2010 IW Best Plants Winners: Excellence Thrives". Industry Week. Retrieved 2022-04-13.
  12. Lockwood, Denise (2014-06-02). "Snap-on acquires New Hampshire manufacturer". www.bizjournals.com. Retrieved 2022-04-13.
  13. Shafer, Dan (November 17, 2016). "Snap-on buys Illinois manufacturer Sturtevant Richmont for $13 million". American City Business Journals.
  14. Shafer, Dan (May 4, 2017). "Snap-on acquires British tool company for $72 million". American City Business Journals.
  15. "Snap-on Acquires AutoCrib". 2020-09-29. Retrieved 2020-09-30.
  16. "Repsol Honda Team Sponsors". Repsol Honda Team. 2019. Retrieved 25 June 2019.
  17. "Doug Herbert and Snap-on End 16-Year Relationship". www.dragracecentral.com. Retrieved 2021-12-09.{{cite web}}: CS1 maint: url-status (link)
  18. "Snap-on to Sponsor Sprint Cup, Nationwide, IRL, NHRA teams". www.vehicleservicepros.com. 2019-12-31. Retrieved 2022-02-09.
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