Snap-on acquires South Carolina diagnostics company for $100 million

Kenosha-based tool manufacturer Snap-on Inc. announced Tuesday that it has acquired Irmo, South Carolina-based Diesel Laptops for approximately $100 million in cash.

Terms of the deal, which closed June 8, were not disclosed.

Diesel Laptops is a provider of diagnostics, repair information and systems solutions for commercial trucks and off-highway vehicles, servicing heavy-duty repair shops, fleets and equipment for mining, agriculture and infrastructure.

Joining Snap-on’s Repair Systems & Information Group, Diesel Laptops will expand the company’s current operations in the sector and add to its product offerings to support the diagnosis and repair of heavy machinery and vehicles, the release said.

Last month, Snap-on announced it had acquired Daventry, United Kingdom-based Hi-Force Group Holdings Ltd., a manufacturer of high-pressure hydraulic tools, heavy lifting systems and torque and tensioning equipment, for approximately $58 million.

That news followed the company’s first quarter earnings, in which it reported $1.2 billion in net sales, up 5.8% from the same period last year.

Read more at the BizTimes.

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