Ontario-based Dealer-FX has been acquired by Snap-on Incorporated, a manufacturer and marketer of tools, equipment, diagnostics, repair information, and systems solutions.
News of the acquisition was released on March 8, 2021 in a Snap-on news release, which stated the company purchased the Dealer-FX Group for approximately $200 million in cash. Dealer‑FX specializes in software as a service (SaaS), (SaaS) management systems, communications platforms, data integrations, and offers a digitized solution to help boost dealership productivity and the customer service experience.
“Dealer-FX extends our strategic visibility into new technologies and platforms as they enter the vehicle parc, expands the reach of our shop management software, and enhances our expertise with respect to dealership service and repair operations,” said Nick Pinchuk, Chairman and CEO of Snap-on. “We believe Dealer-FX will magnify our current capabilities across the Repair Systems & Information Group.”
Given the increasing complexity of vehicle repair and the importance of the customer experience, Pinchuk said the acquisition, with its end-to-end dealership software solutions, “will further Snap-on’s progress along one of its decisive and coherent runways for growth, expanding with repair shop owners and managers.”
The acquisition complements and expands on the company’s existing OEM and dealership business in its Repair Systems & Information (RS&I) Group, which provides electronic parts catalogs, essential tool and diagnostics programs, and custom analytics to OEMs and more than 50,000 dealerships around the globe.
“Coupled with the know-how and capabilities of RS&I, along with the financial strength of Snap-on, we believe this addition will fortify our already strong position in vehicle repair and will upwardly increment our growth expectations in this important market segment,” said Pinchuk.
HGGC is the private equity firm that sold Dealer-FX.
