DALLAS, May 30, 2018 /PRNewswire/ -- Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Sturtevant Richmont of Carol Stream, Illinois, to Snap-on Incorporated of Kenosha, Wisconsin. The acquisition closed 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.
About Generational Equity
Generational Equity, DealForce, and Generational Capital Markets, member FINRA/SIPC, are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America. With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services. Their four-step approach features exit planning education, business valuation, value enhancement strategies, and M&A transactional services.
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