Polaris has sold Car-O-Liner, a provider of hardware, software and training to equipment manufacturers and repair shops, to Snap-On.
Polaris acquired Car-O-Liner in 2012 and since then the company has developed from being a system provider to being a partner to equipment manufacturers and repair shops all over the world.
Via distributors and their own sales companies, Car-O-Liner is represented in more than 70 countries. The head office is located in Gothenburg, Sweden.
With Polaris as its owner, the company has seen a period of rapid expansion while simultaneously strengthening its position in the US and China. The emergence of new technology along with new car models poses new challenges to repair shops and their repair methods.
Jan Dahlqvist, a Polaris partner, says: “The main strategy of the company is the sales of hard and software along with knowhow creating safe reparations and improved operational economy. We have now reached the targets we initially defined and profitability has been satisfactory indeed. It is therefore reasonable, that the company now becomes part of a global organisation with longstanding industry experience dating back to the ‘20s. Car-O-Liner is now planted into a solid corporate culture focused upon growth.”
Mikael Jonson, CEO of Car-O-Liner Group, adds: “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.”
Jefferies was the sole financial adviser to Polaris and Car-O-Liner in the transaction.
