Malco Tools has long been synonymous with quality and innovation in the tool industry. From humble beginnings to a recent acquisition by Aspen Pumps Group, Malco’s journey is a tale of dedication, craftsmanship, and forward thinking. As we celebrate Malco’s 75th Anniversary this year, we can take a look back in time as we prepare for the exciting future ahead.
The Founding Years
Malco Tools was founded in 1950 by Mark W. Keymer, a young steel supply salesman and entrepreneur passionate about creating high-quality tools for the HVAC industry. Mark invented a pipe crimper to install the “new” sheet metal ductwork used in forced air heating systems. Mark started the company in a garage owned by an early associate named Al, which contributed to Malco’s iconic name using “Mark and Al’s Company,” abbreviated to Malco.
Operations moved from Al’s garage to Mark’s basement after Al parted ways with the company. Malco’s first business office consisted of a kitchen table, a shoebox filing system, and a manual typewriter. With advertisements printed nationally to help generate business, Mark’s wife, Dorothy, assisted with the books and hiring the first employees and independent sales rep.
Innovation and Expansion
Throughout the 1960s and 70s, Malco continued to grow, driven by a commitment to innovation. With a sales rep force, new product development, a focus on trade show attendance, and connections to wholesale distributors, Malco became a trusted name in the industry.
Mark started hosting educational sessions to enhance product knowledge within the company, referred to as “Tool School,” which is still a critical facet of Malco’s training today. Additionally, Malco proudly participates in student giveback programs, such as Head of the Class, to support the next generation of Trade Pros.
The 1970s included the big move to Annandale, MN, which remains the operation headquarters today. This era also saw the introduction of a new product market, releasing Zip-in ® Screws, which are a trademark of Malco products to this day.
As the demand for Malco’s products grew, so did the company’s reach. By the 1980s, Malco had expanded its product line to include reciprocating saw blades and the newly popular FasGroov® system.
The 1990s saw Malco enter a new era. It revolutionized the product development and purchasing process, entered the digital landscape, and released many new tools, such as the lightweight Andy “Combination” Snips and the C4 and C5 Crimpers.
A Commitment to Quality
One key factor behind Malco’s enduring success has been its unwavering commitment to quality. Every tool that leaves the Malco factory undergoes rigorous testing to ensure it meets the highest performance and reliability standards. This dedication to excellence has earned the company numerous awards and accolades and the loyalty of countless professionals who rely on Malco tools daily.
Safety and Beyond
In addition to its focus on quality, Malco has pioneered an exceptionally safe working environment for employees.
As of 2024, Malco has earned two of the state’s top safety recognitions: Minnesota STAR (MNSTAR) certification from the Minnesota Occupational Safety and Health Administration (MNOSHA), and the 2024 Governor’s Safety Award, awarded by the Minnesota Safety Council.
The Acquisition by Aspen Pumps Group
In a significant development, Malco Tools was acquired by Aspen Pumps Group in 2024. This acquisition marks a new chapter in Malco’s history as it joins forces with a global leader in the HVAC and refrigeration industry.
Aspen Pumps Group, known for its innovative solutions and customer-centric approach, saw Malco as the perfect partner to expand its product offerings and reach new markets. The acquisition is expected to bring numerous benefits to both companies, including increased resources for research and development, enhanced distribution networks, and more significant growth opportunities.
A Bright Future Ahead
The acquisition by Aspen Pumps Group is not just a strategic business move but a testament to Malco Tools’ enduring legacy. With the backing of a global powerhouse, Malco is poised to continue its tradition of innovation and excellence, providing professionals with the tools they need to succeed.
As Malco embarks on this exciting new journey, it remains committed to the values that have defined its success for over seven decades: quality, innovation, and a dedication to its customers. With the combined strengths of Malco and Aspen Pumps Group, the iconic brand’s future looks brighter than ever.
As it moves into a new era through The Malco Group, Malco Tools is well-positioned to build on its legacy and continue serving the needs of professionals worldwide.