Yep, it swings up and latches in place using a gate latch.
It runs just fine. Not very powerful, as I recall. 1/3 HP, I believe. The wire wheel on the left hand side is off center by quite a bit, so it vibrates. Previous owner had it that way, and I've just not bothered to fix it.
The reason for the 3 grinders? Well, I was in the market for one. I only had the one on the right, and it's really underpowered (China made). I came across the ad for the Thor grinder on Craigslist, and headed over to pick it up. Before I left, though, I found another grinder (the Craftsman in the middle) on CL as well ($20 I think it was) located very close to where the Thor was. So I got 'em both.
So no real reason for the 3.
I also have an old Souix pedestal grinder that I use for grinding HSS tooling for the lathe and mill: