Snap-on Tools history

Stanton Palmer, a former factory sales representative, served as president of the corporation from 1921 until his death ten years later.

In 1923, Snap-on published its first product catalog.

Snap-on was praised for this timesaving innovation in a December 1924 article in Ford Owners and Dealer publication.

By 1925, 165 salesmen were demonstrating and distributing Snap-On tools.

With Canadian demand for Snap-on tools surging, the first branch was opened in Montreal in 1927.

Education Programs In 1928, over 300 auto mechanic instructors from all over the United States attended a training session at the Stout Institute in Menomonie, Wisconsin to learn about the Snap-on product line.

In 1929, an eleven-acre site was purchased on the outer edge of Kenosha to consolidate manufacturing and its general offices, then located in Chicago.

Credit: A Unique Advantage Extending credit has been an essential component of Snap-on’s success since the 1930’s.

Snap-on Tools of Canada Ltd. was incorporated and became the first international subsidiary on July 29, 1931.

Sales reached $1 million in 1935, and Snap-On conducted its initial public offering six years later.

When Myers died in 1939, Joe Johnson, the corporation's conceptual founder, became the president of both Snap-On and Forged Steel.

So, in 1944 Snap-on created a railroad department because of the highly specialized nature of their product line.

By 1945 all salesmen were carrying stock and making immediate deliveries to their customers.

The Weidenhoff Corporation of Algona, IA was acquired in 1956.

Judson Engineering of Natick, MA was acquired in 1959.

Recognizing the importance of this contact, Snap-On asked its salespersons to increase their contact with clients from once a month to at least twice a month in 1962.

An important patent on the "flank drive" design of wrenches was also awarded in 1965, after years of legal debate.

As Snap-on celebrated its 50th anniversary in 1970, it began a decade of explosive growth.

Norman E. Lutz became president in 1974, overseeing growth in the worldwide sales force to more than 3,000.

He continued to serve on the board of directors until 1975.

In 1978 Lutz became chair and chief executive officer (CEO), and Edwin C. Schindler became president.

In 1982 Lutz retired and was replaced by Schindler as chairperson, while William B. Rayburn became president; the following year Schindler died, and Rayburn became the company's chairperson and CEO. A slight decrease in both revenue and earnings in 1982 was attributed to that year's recession.

In 1983, Snap-on developed torqometer adaptors that fit stainless steel fasteners with a ¼” clearance.

In 1984 Snap-On acquired an equity stake of approximately 34 percent in Balco, Inc., a developer of engine diagnostic and wheel service equipment.

End of an Era Joseph Johnson, whose brilliant idea changed repair service forever, died on October 15, 1986 at the age of 92.

In 1987, the $1 billion sales goal was achieved.

In 1988 new Chairperson Marion Gregory faced a new challenge for Snap-On.

In 1989, operations were expanded, and sales tripled the following year.

Becoming a Franchise Network In 1990, Snap-on became the first mobile tool company in the United States to convert to a franchise operation.

Snap-On issued common stock valued at approximately $21.2 million to acquire the remaining interest in Balco, Inc. in 1991.

In January 1992, the name was changed to Snap-on Tools Japan, K.K. (SOJ) and an aggressive franchisee recruiting program was launched.

"snap-on inc." international directory of company histories. detroit: gale research, 1993.

In 1994, Entrepreneur Magazine ranked Snap-on as the “top new franchise.”

In 1995, Snap-On acquired Eurotools S.A., its first hand tool manufacturing facility in Europe.

The purchase of the automotive service operations of FMC in 1996 allowed Snap-On boost its under-car equipment operations.

The expansion into retail sales was expected to increase the company's 1997 revenues of $1.7 billion by at least five percent, perhaps more.

Snap-On announced a comprehensive plan to restructure its entire operation during the summer of 1998, including the elimination of more than 1,000 jobs to increase profitability.

In 1999, Snap-on partnered with CIT to form a joint venture for the credit company.

copple, brandon. "it's a snap." forbes, 17 july 2000.

Many analysts became concerned about Snap-On's outlook in mid-2001, when company officials revealed that third quarter earnings would be roughly 68 percent lower than in the third period of the previous year.

Beginning in 2005, Snap-on enlisted the masters of the Toyota Production System, Shingijutsu, as a guide.

Snap-on Business Solutions (SBS) Snap-on extended its capability to repair shop customers by acquiring ProQuest Business Solutions in 2006, a leader in the development and distribution of electronic parts catalogs for Original Equipment Manufacturer (OEM) customers.

The next year, Snap-on opened a manufacturing plant in Johnson City, Tennessee and closed the plant in 2007.

Snap-on brought the credit company home when it became a wholly owned subsidiary in 2009, enhancing services to both franchisees and customers.

In 2010, the average age of vehicles in China was relatively young at four years-old, but the repair wave was coming with a rapidly growing and aging car base.

Bahco Celebrates 125 Years 2011 marked the 125th anniversary of Bahco’s iconic Fish and Hook trademark.

Expand with Repair Shops — Equipment & Big Data In 2013, Challenger Lifts joined the Snap-on family; well known for break-through innovations such as the industry's first 3-stage front and 3-stage rear arm 2-post lift, and the industry's first realGREEN™ lifts that run on air and water.

In 2014, Snap-on significantly upgraded the factory line at its hand tool facility in Xiaoshan, purchased a few years earlier.

Ecotechnics, which designs and manufactures automatic vehicle air conditioning maintenance equipment for OEM dealerships and the automotive aftermarket worldwide, joined Snap-on in 2015.

In October 2016, the company acquired Car-O-Liner Holding AB, a Swedish collision repair tool company, for $155 million.

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

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