Snap One

#5835

Rank

$822.76M

Marketcap

United States

Country

Leadership team

Mr. John H. Heyman (CEO & Director)

Mr. Michael Carlet (Chief Financial Officer)

Mr. Jeffrey Hindman (Exec. VP of Sales, Marketing, Support, & Retail Distribution)

Products/ Services

Audio, Consumer Electronics, Electronics, Software

Number of Employees

1,000 - 20,000

Headquarters

Charlotte, North Carolina, United States

Established

2005

Company Registration

SEC CIK number: 0001856430

Revenue

Above - 1B

Traded as

SNPO

Social Media

URL

https://snapone.com

Overview

Location

Recognition and Award

References

Summary

Snap One Holdings Corp. provides smart living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts. In addition, the company offers software solutions consisting of OvrC system that provides integrators with a remote management and monitoring solution; Control4 OS3 for command and control of smart living systems; Parasol, a subscription-based service that gives homeowners and small businesses access to a continuous remote support service; and 4Sight, a remote system management software for end consumers. It sells its through integrators and distributors, as well as through e-commerce portal. The company was formerly known as Crackle Intermediate Corp. and changed its name to Snap One Holdings Corp. in March 2021. The company was founded in 2005 and is headquartered in Charlotte, North Carolina. Snap One Holdings Corp. is a subsidiary of Hellman & Friedman, LLC.

History

Snap-on was founded as the Snap-on Wrench Company in Milwaukee, Wisconsin in 1920 by Joseph Johnson and William Seidemann. The business manufactured and marketed ten sockets that would "snap on" to five interchangeable handles. The company's slogan was "5 do the work of 50". In 1930, the company's headquarters moved to Kenosha, Wisconsin.After World War II, Stanton Palmer advertised for a military officer to organize and develop a larger sales force for the expected post war sales boom. Newton Tarble was hired, and came up with the idea of developing routes for company dealers to see mechanics on a weekly basis. Eventually these salesmen became independent businessmen and authorized dealers using larger walk in vans to carry a growing product line.

The company opened their wrench forging plant in Elizabethton, Tennessee in 1974. The next year, Snap-on opened a manufacturing plant in Johnson City, Tennessee and closed the plant in 2007.In 1998, workers at the company's Milwaukee plant voted to join the Teamsters labor union and the company expanded the facility in 2013.In 2010, the Murphy, North Carolina plant was named one of the top 10 plants in North America by IndustryWeek. In 2011, J.H. Williams & Co was officially renamed Snap-on Industrial Brands.

Acquisitions

In 2014, the company acquired New Hampshire–based Pro-Cut for $42 million.In October 2016, the company acquired Car-O-Liner Holding AB, a Swedish collision repair tool company, for $155 million. Later that year, the company acquired Sturtevant Richmont for $13 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.In March 2021, Snap-on acquired Canada-based Dealer-FX Group for $200 million.

Racing sponsorships

The company has sponsored Penske Racing teams in the NASCAR Cup Series and Xfinity Series as well as IndyCar. The first driver Snap-on became associated with was Rick Mears in 1979. Since 1992, Snap-on has sponsored Cruz Pedregon. In 2004, the company began sponsoring Cruz’s brother Tony Pedregon. Snap-on has also sponsored Repsol Honda Team in MotoGP since 1998.Snap-on sponsored NHRA drag racer Doug Herbert from 1992 until 2008. For the 2010 racing season, the company sponsored Penske Racing.

References

External links

Business data for Snap-on Incorporated:

Historic American Engineering Record No. MI-350, "Snap-On Tools, 93 Piquette Avenue, Detroit, Wayne County, MI", 1 photo, 1 photo caption pag

Mission

Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.

Vision

At Snap, we have a long track record of pioneering industry changing innovation, and we like to think that kindness is our business superpower - it’s not a constraint on our growth, it’s a driver. We strive to live up to our values of being kind, smart, and creative in how we operate as a business, support our team, community, partners, society and the planet.

Key Team

Mr. Eric Steele (Sr. VP of Fin. & VP of Investor Relations)

Mr. Joshua D. Ellis (Chief Legal Officer)

Ms. Abigail Hanlon (Director of Marketing Events & PR)

Ms. Kathleen Creech (Chief Human Resource Officer)

Mr. Jefferson Dungan (Exec. of VP of Operations)

Mr. G. Paul Hess (Chief Product Officer)

Ashley Swenson (Sr. VP of Marketing)

Recognition and Awards

Snap Inc. won 5 awards in 2022. In 2022, Snap Inc. won for Best Company for Women 2022, Best Company Culture 2022, Best Company Perks & Benefits, Best Company Compensation and Best Places to Work in Los Angeles 2022. Based on 5,596 ratings and 695 participants, employees at Snap Inc. are very satisfied with their work experience. The overall culture score, 82/100 or A+, incorporates employee ratings based on their feedback on the Team, Retention, Gender and more.