Snap-on Incorporated of Kenosha, Wisconsin, acquired Generational Equity client Sturtevant Richmont of Carol Stream, Illinois on November 16, 2016.
Sturtevant Richmont, founded in 1940, is a manufacturer of tools and testing devices. The company is a family-owned business, with six siblings sharing ownership.
Sturtevant holds more than 70 torque-related patents and blazed a trail in the industry through development and innovation. The company became the first torque tool manufacturer to be ISO 17025 certified and ISO 9001 certified, among other firsts.
Snap-on Incorporated, founded in 1920, is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks.
The S&P 500 company’s solutions serve vehicle dealerships and repair centers, as well as customers in various industries including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.
Sturtevant Richmont will be part of the Snap-on’s commercial & industrial group. The acquisition enhances and expands Snap-on’s capabilities in providing solutions that address torque requirements, which are increasingly essential to critical mechanical performance.
Generational Equity Managing Director Douglas Smith’s team, headed by trusted affiliate Jerry Yocum with support from Generational Equity Vice Presidents Ryan Johnson and Musa Jagne, successfully closed the deal.
The expertise of Generational Equity’s team of M&A professionals in the manufacturing industry, as well as many other sectors, is key to helping acquisitions such as this reach its destination for an optimal value. If you’d like to discover more about our knowledge of the manufacturing sector and other transactions we have handled in this industry, visit our dedicated page.
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