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Wilton Tool Company, Chicago, IL, will merge with JET Equipment & Tools, Auburn, WA, according to WMH, Walter Meier Holding, AG and the investors in Wilton Tool Company. In addition to vises and clamps, since 1981 Wilton has been supplying hand tools and machinery to the industrial market. Through a merger with HTII in 2001, the Wilton Tool Company also became a supplier of hand and power tools to the retail market. The new company will be named the WMH Tool Group.
Founded in 1958, JET Equipment & Tools has grown in the material handling, metalworking, and woodworking markets. Purchased by WMH in 1988, the company grew in the woodworking machinery industry while maintaining a presence in the material handling and metalworking markets. In 1999 JET purchased Performax Products and the Powermatic Corporation. Powermatic woodworking products were first introduced in 1921. In 2001 Wilton Machinery joined JET.
This merger will complete the fourth acquisition in the past three years for WMH. Dennis Jacobson, currently President/CEO of Wilton Tool Company, will serve as president and CEO. The current investors of Wilton Tool Company will remain as minority shareholders. The WMH Tool Group will employ 600 people worldwide with annual sales of $250 million.
WMH Tool Group will go to market through five divisions covering the most important distribution channels and product categories: Retail, Consumer Woodworking/Light Industrial Products, Industrial Woodworking, Metalworking Machinery, and Industrial Tools.