Snap-on Incorporated has signed an agreement to acquire Car-O-Liner, a global market leader in  collision repair systems and equipment, from Polaris Private Equity.

Snap-on has announced it has has entered into a definitive agreement to acquire Car-O-Liner and the deal is expected to be finalised within the month.

Nick Pinchuk, Snap-on Chairman and CEO commented, "Car-O-Liner’s product offering and special expertise are important additions to our Repair Systems & Information Group, bringing greater capabilities in collision repair and strengthening Snap-on’s position in the heavy duty segment. Given trends in the collision space, including the need for greater precision, the requirement to accommodate new materials and the higher emphasis on shop efficiency, we believe this acquisition will further Snap-on’s progress along its strategic and coherent growth runway of expanding, with repair shop owners and managers. We look forward to welcoming Car-O-Liner associates to the Snap-on family.”

Car-O-Liner was acquired by Polaris Private Equity in 2012. The company has since strengthened its position in collision repair, wheel alignment and straightening solutions to the passenger and commercial vehicle aftermarket.

Mikael Jonson, CEO of Car-O-Liner commented, "Car-O-Liner, under ownership of Polaris, is pleased to have reached many of its strategic and development goals. Our global expansion and strategic shift from being not only a provider of hardware to the collision repair industry, but also a provider of information and knowledge has exceeded our expectations. Now, under leadership of Snap-on Incorporated, we look forward to continued expansion and increased dedication to developing innovative collision repair solutions that lead to safer repairs.”