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Sanp-on Buys Sturtevant Richmont

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woody 73

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Very interesting but what shocked me more then the buyout was only paying 13 million seems like chump change, I always thought they were worth more money maybe not so ?
 
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M6erfan

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SR sales are only around $10mm annual, of course there's also the physical property, tooling, etc. $13 million seems about right IMO...
 
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buckwheat_la

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You can rough value a business by 1 year gross revenue assuming the have about a 8-10 percent margin (profit) so they look to have done alright.
 
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woody 73

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M6erfan and buckwheat I am sure you guys are spot on in your posts but I always thought that for being around as long as they have the S&R company would have been worth more money, but then again my thinking is way off if their sales are only 10 million per year.
 
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buckwheat_la

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woody 73 said:
M6erfan and buckwheat I am sure you guys are spot on in your posts but I always thought that for being around as long as they have the S&R company would have been worth more money, but then again my thinking is way off if their sales are only 10 million per year.
Click to expand...

Well there are more variables than yearly income to consider. Hard assets and cash in hand, not to mention patent and research development. That said some companies just fall from significance as well. Look at Blackberry as a example, which is a shadow of its former worth but still a solid asset company.
 
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Fcvapor05

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'being around for a long time' has very little monetary value on its own.
 
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M6erfan

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Fcvapor05 said:
'being around for a long time' has very little monetary value on its own.
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Like 0 value. Unless your buying a household name like Xerox or Kleenex...And then it's difficult to monetize that value.

My guess is 95% of americans have never heard of Sturtevant Richmont
 
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HomeTheaterMan

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M6erfan said:
Like 0 value. Unless your buying a household name like Xerox or Kleenex...And then it's difficult to monetize that value.

My guess is 95% of americans have never heard of Sturtevant Richmont
Click to expand...

Heck, I've been on GJ for a while now and until your post I'd never heard of them.
 
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Fcvapor05

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M6erfan said:
Like 0 value. Unless your buying a household name like Xerox or Kleenex...And then it's difficult to monetize that value.

My guess is 95% of americans have never heard of Sturtevant Richmont
Click to expand...

I would've gone with 99.9999%
 
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Loscaldazar

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Wonder why they bought them. Snap On already has CDI. Maybe to eliminate competition?
 
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6PTsocket

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I have a beam wrench, 0-50 in-lb of theirs. I think it was just plain Sturdivant back then. They had a funny logo called the mad torquer. It was a character with a torque wrench for a body. They were better known when I was a kid They had magazine ads. The handle on mine was a plastic ball and it crumbled years ago. A couple of years ago I called them and they sent me the ball for the current equivalent model but they had gotten fancy and made the ball to pivot so the hole was far too big. After all those years, it was nice of them them to support the product. I hope customer service remains as good. Now SnapOn has two torque wrench divisions, SR and CDI Do you think it will merge them?


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d.mcfarland

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I would imagine that the CDI financials weren't all that great so they sold out to the highest bidder. Snap On was all over it because for the low price they just gained more market share that will have paid for itself in a few years time.
 
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6PTsocket

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d.mcfarland said:
I would imagine that the CDI financials weren't all that great so they sold out to the highest bidder. Snap On was all over it because for the low price they just gained more market share that will have paid for itself in a few years time.
Click to expand...
Don' t you mean SR financials?

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NUTTSGT

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Loscaldazar said:
Wonder why they bought them. Snap On already has CDI. Maybe to eliminate competition?
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You never know what kind of tooling that might have that can be switched over to other production of some type.


OTOH, include me as those that hadn't heard of SR either, atleast not that I can remember of.
 
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T45

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Re: Snap-on Buys Sturtevant Richmont

bob15 said:
Beam-type torque wrenches I believe
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Also, customer lists and relationships. On the industrial side, in particular, that may have some potential for synergies. Government, aerospace and what not would be my guess.
 
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bob15

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Re: Snap-on Buys Sturtevant Richmont

T45 said:
Also, customer lists and relationships. On the industrial side, in particular, that may have some potential for synergies. Government, aerospace and what not would be my guess.
Click to expand...

Plus, buying your competition out, instead of someone else, is always good for you and the bottom line.
 
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2oolhound

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You never know, out of the 10 million in annual profits SR was bringing in a significant % of that may have been from old SR royalty rights for use of SR technology in CDI's products that CDI may have been paying out annually. S-O gets to pay all that off at once this way.
 
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bob15

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Re: Snap-on Buys Sturtevant Richmont

country83 said:
AFAIK CDI makes them too. :dunno:
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Mind showing me where (CDI's website catalog): http://www.bluetoad.com/publication/?m=26173&l=1

I see split beam-type, but no beam type:

0045383-24.jpg
 
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L.Cheapo

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I don't have anything made by S-R, but I'm glad Snap On bought them and not someone else...like Uncle Mao's Dollar Store.
 
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JMLangford

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I've got a unused Sturtevant Richmont 29 piece Torque Screwdriver set.
I'm probably going to list it in the Classified section soon.....(they're owned by Snap-On don't cha know :thumbup:)

20150620_112514.jpg 20150620_161818.jpg



.
 
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6PTsocket

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6PTsocket said:
I like that. Is it another name fo HF?

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Replies never end up under what you are replying to. I was replying to " Uncle Mao's Dollar Store".

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L.Cheapo

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6PTsocket said:
Replies never end up under what you are replying to. I was replying to " Uncle Mao's Dollar Store".

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Click to expand...

I heard it from YouTube personality AvE. He has a great channel, knows his stuff, and usually makes you laugh too. Mostly about electronics, tools, machines, and science--with a little asshattery thrown in for good measure.

I think he uses it to describe any purveyor of cheap Chinese tools, likely Princess Auto in Canada (where he's from) and HF in the USA.
 
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