Who owns Matco Tools? If you’ve ever wondered about the ownership of this well-known brand, you’re in the right place. Matco Tools is a reputable company that specializes in high-quality automotive tools and equipment. In this blog article, we’ll dive into the ownership structure of Matco Tools and shed light on the individuals and organizations behind its success. So, let’s embark on this journey together and uncover the answer to the intriguing question, “Who owns Matco Tools?”
Table of Content
- 1 Who Owns Matco Tools?
- 2 Frequently Asked Questions
- 2.1 Who currently owns Matco Tools?
- 2.2 When did Fortive Corporation acquire Matco Tools?
- 2.3 Is Matco Tools a publicly-traded company?
- 2.4 Who was the previous owner of Matco Tools before Fortive Corporation?
- 2.5 Does Matco Tools have any other subsidiaries?
- 2.6 Is Matco Tools still headquartered in the United States?
- 3 Final Thoughts
Who Owns Matco Tools?
Matco Tools is a renowned brand in the automotive industry, known for its high-quality tools and exceptional customer service. If you’re a car enthusiast or a professional mechanic, you have probably come across Matco Tools and wondered who owns this successful company. In this article, we will dive into the ownership of Matco Tools, exploring its history, current ownership, and any related subtopics. So, let’s get started and unveil the ownership of Matco Tools!
The History of Matco Tools
Before delving into the ownership details, let’s take a brief look at the history of Matco Tools. The company was founded in 1946 by the late Edgar F. “Doc” Frazier in northeastern Ohio. Initially, it started as a small tool manufacturing company catering to automotive technicians. Over the years, Matco Tools grew exponentially, gaining a reputation for producing high-quality tools that mechanics could rely on.
Throughout its history, Matco Tools has focused on innovation and providing top-notch solutions to meet the changing needs of automotive professionals. The company’s commitment to quality, durability, and cutting-edge technology has enabled it to become one of the leading players in the automotive tool industry.
Ownership of Matco Tools
As of June 2021, Matco Tools is a subsidiary of Fortive Corporation. Fortive is a diversified industrial growth company that operates globally, with a strong presence in various industries, including professional instrumentation and industrial technologies. The acquisition of Matco Tools by Fortive took place in October 1997.
Fortive Corporation owns several other well-known brands and companies in addition to Matco Tools. Some of the notable brands under the Fortive umbrella include Fluke Corporation, Gilbarco Veeder-Root, Tektronix, and many more. With its extensive reach and resources, Fortive provides Matco Tools with a solid foundation for growth and development in the automotive tool industry.
Matco Tools and the Danaher Corporation Connection
Before being acquired by Fortive Corporation, Matco Tools was a part of the Danaher Corporation. Danaher is also a global science and technology innovator, operating in various sectors such as environmental, dental, life sciences, and diagnostics. Matco Tools became a division of Danaher in 1992, further enhancing its position in the market.
Danaher Corporation, known for its continuous improvement strategies and commitment to operational excellence, played a significant role in the growth and success of Matco Tools during its time under their ownership. However, in 1997, there was a separation within the Danaher Corporation, resulting in the formation of Fortive Corporation, which took over the ownership of Matco Tools.
Matco Tools’ Commitment to Customer Satisfaction
One of the reasons why Matco Tools has gained wide recognition and a loyal customer base is its commitment to customer satisfaction. The company emphasizes building strong relationships with its customers and understanding their unique needs. Matco Tools achieves this by offering a diverse range of products, including hand tools, diagnostics, storage solutions, and more.
Moreover, Matco Tools provides exceptional warranty and service programs, ensuring that their customers have peace of mind when investing in their products. The company also offers personalized support through its dedicated sales force and franchise network, creating a strong bond between the brand and its customers.
Franchise Opportunities with Matco Tools
In addition to being a successful tool manufacturer and distributor, Matco Tools also offers franchise opportunities to individuals interested in starting their own business in the automotive tool industry. Matco Tools franchisees receive comprehensive training, ongoing support, and access to a wide array of high-quality products. This allows them to build their businesses with the backing of a trusted and established brand.
As a Matco Tools franchisee, individuals can tap into an extensive network of professionals and benefit from marketing initiatives, inventory management systems, and exclusive discounts on products. The franchise model has been a key factor in Matco Tools’ expansion, enabling them to reach customers nationwide while maintaining their commitment to personalized service.
Innovation and Product Development
Matco Tools has always been at the forefront of innovation in the automotive tool industry. The company invests heavily in research and development to introduce new and improved products that meet the evolving needs of mechanics and professionals. Matco Tools continuously strives to enhance its product offerings, incorporating cutting-edge technology and ergonomic designs to improve efficiency and productivity for its customers.
Conclusion:
In conclusion, Matco Tools, a reputable brand in the automotive tool industry, is currently owned by Fortive Corporation. With a rich history, a commitment to customer satisfaction, and a focus on innovation, Matco Tools has established itself as a reliable choice for mechanics and automotive professionals worldwide. Whether through its franchise opportunities or its extensive product range, Matco Tools continues to play a vital role in supporting the success of those in the automotive industry.
The Dark Side of Matco Tools Franchise
Frequently Asked Questions
Who currently owns Matco Tools?
Matco Tools is currently owned by Fortive Corporation, a global industrial technology company.
When did Fortive Corporation acquire Matco Tools?
Fortive Corporation acquired Matco Tools in 1998.
Is Matco Tools a publicly-traded company?
No, Matco Tools is not a publicly-traded company. It is a subsidiary of Fortive Corporation, which is publicly traded on the New York Stock Exchange under the ticker symbol FTV.
Who was the previous owner of Matco Tools before Fortive Corporation?
Before being acquired by Fortive Corporation, Matco Tools was owned by Danaher Corporation, another global industrial company specializing in professional tools and technology.
Does Matco Tools have any other subsidiaries?
Yes, Matco Tools has several subsidiaries, including Matco-Norca, which focuses on plumbing and HVAC supplies, and Matco Wrench, a manufacturer of high-quality wrenches.
Is Matco Tools still headquartered in the United States?
Yes, Matco Tools is still headquartered in the United States. Its corporate headquarters is located in Stow, Ohio.
Final Thoughts
Matco Tools is a well-known brand in the automotive tool industry. While it was initially owned by Danaher Corporation, it has since become a subsidiary of Fortive Corporation. Fortive is a global industrial technology company that specializes in providing solutions for a wide range of industries. With its acquisition of Matco Tools, Fortive has expanded its portfolio and strengthened its presence in the automotive market. Therefore, it is safe to say that Fortive Corporation is the current owner of Matco Tools.