Snap-on Acquires Norbar Torque Tools

Snap-on Inc announced that it 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 a leading 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 & gas, mining and railroad.

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

Interestingly, the two companies have a background that extends back to the 1940s, as William Brodey’s introduction to the tool business was as a distributor for Snap-on products in the early 1940s.