The small universe of woodworking tool manufacturers just got a bit smaller. At a Ryobi editors’ conference in Georgia last week, it was announced that TTI (Techtronics Industries, Inc.), the parent company of Ryobi and the licensed partner of and producer of RIDGID power tools, had purchased Milwaukee Electric Tool, AEG.
Milwaukee had been for sale for a while, but there had been little information circling as to who its suitors might be. Long a significant industrial brand and one known for its quality, if not for innovation, Milwaukee had lost market share in the last several years. While it was far too early for the staff at the editors’conference to make any definitive statements as to how the newly acquired brand would be handled, they were excited at the prospects of Milwaukee’s future. The general consensus was that they would retain the brand as an entity, but beyond that they would say little.
TTI had previously lost out to Black & Decker as they bid on the Pentair Tool Group (Porter-Cable and Delta tools being the gems in that crown).
In addition to the benefits of owning Big Red and its subsidiaries, the distribution channels it will bring with it are of significant value. Keep looking to the Woodworker’s Journal eZine and print magazine for more on this and other significant industry news.