Milwaukee is one of the most respected names in the power tools industry. Known for its innovation and durability, Milwaukee tools are used by professionals and DIY enthusiasts alike. If you’re wondering who owns Milwaukee, this article breaks down its ownership, leadership, history, and more.
History of Milwaukee
Milwaukee Electric Tool Corporation was founded in 1924 in Milwaukee, Wisconsin. The company started by producing a lightweight one-handed 1/4-inch drill for Ford Motor Company. It quickly grew in popularity due to its rugged, reliable tools. During World War II, Milwaukee supplied the U.S. Navy with portable tools, which helped boost its credibility.
In the decades that followed, Milwaukee expanded its product line. It became known for innovation in cordless tools, especially after launching its M18 and M12 battery systems. The company changed hands several times before reaching its current ownership.
Who Owns Milwaukee Tool?
Milwaukee Tool, officially known as Milwaukee Electric Tool Corporation, is not an independent company. It is a wholly owned subsidiary of Techtronic Industries Company Limited (TTI). This means 100% of Milwaukee’s ownership belongs to TTI. The company operates independently in terms of branding, product development, and marketing, but all strategic decisions ultimately align with TTI’s corporate objectives.
Parent Company: Techtronic Industries (TTI)
Techtronic Industries Company Limited is a global leader in power tools, outdoor equipment, floor care products, and accessories. It was founded in 1985 and is headquartered in Hong Kong. TTI is publicly traded on the Hong Kong Stock Exchange (HKEX) under the stock code 0669.HK.
TTI has a global footprint and owns multiple well-known brands, including Milwaukee, Ryobi, Hoover, Dirt Devil, and AEG. Among these, Milwaukee is the flagship brand for professional users and industrial markets.
Key Details About TTI
- Founded: 1985
- Headquarters: Hong Kong
- Stock Listing: Hong Kong Stock Exchange (0669.HK)
- Market Cap: Over US$30 billion (as of 2025)
- CEO: Joseph Galli Jr.
- Chairman: Horst Julius Pudwill
Acquisition Insights: How TTI Acquired Milwaukee
Milwaukee Tool was acquired by Techtronic Industries in 2005 from the Swedish industrial group Atlas Copco. Atlas Copco had owned Milwaukee since 1995 but decided to divest the brand as part of a restructuring plan.
At the time of the acquisition, TTI was looking to expand its portfolio into the professional tool segment. Milwaukee was already known for its high-quality corded and cordless tools. TTI paid approximately $626.6 million for the acquisition. This deal included Milwaukee’s operations in the U.S., Europe, and Asia.
The acquisition was considered a strategic move for TTI, which until then had focused primarily on consumer-grade tools like Ryobi. Milwaukee gave TTI a strong position in the premium segment and access to North American and European industrial users.
Strategic Value of the Acquisition
- Strengthened TTI’s product portfolio in the professional tool segment
- Gained access to Milwaukee’s patented technology and innovations
- Provided a U.S. manufacturing and distribution base
- Boosted TTI’s revenue and international brand recognition.
Shareholding Structure of TTI
Since Milwaukee is owned entirely by TTI, understanding TTI’s shareholder structure reveals who indirectly owns Milwaukee. Here’s an overview of the major shareholders of TTI who own Milwaukee through its parent company:
Horst Pudwill & Family
Co-founder of TTI, Horst Pudwill, and his family are the largest individual shareholders. They control approximately 25% of TTI through various holding companies. Pudwill serves as Chairman and remains actively involved in strategic decisions.
Institutional Investors
Major global asset managers such as BlackRock, Vanguard Group, and JPMorgan Asset Management hold significant stakes in TTI. These firms collectively own a large percentage of the remaining shares but do not exert direct control.
Public Investors
TTI is a publicly traded company, so a portion of its shares is held by individual investors through the Hong Kong Stock Exchange.
This ownership structure gives TTI centralized control while allowing global investors to share in the company’s success.
Operational Independence
Despite being a subsidiary, Milwaukee operates with a high degree of operational independence. Its headquarters remain in Brookfield, Wisconsin, and the company continues to invest in U.S.-based manufacturing and R&D.
The leadership team, headed by CEO Steve Richman, manages day-to-day operations, product development, and strategic planning. However, major capital investments and acquisitions require approval from TTI’s board and executive management.
Global Expansion Under TTI
Since the acquisition, Milwaukee has seen remarkable global growth. TTI has invested heavily in Milwaukee’s:
- Cordless technology: The M18 and M12 platforms revolutionized professional-grade cordless tools
- Tool accessories and storage systems: Expanding the range beyond power tools
- Distribution: Milwaukee expanded its footprint in Europe, Asia, and Latin America
- Workforce: The company has increased its employee count significantly, especially in engineering and manufacturing
Milwaukee’s revenue has grown by double digits annually under TTI’s ownership. It is now believed to contribute over 50% of TTI’s total revenue.
Who is the CEO of Milwaukee Tool?
Steve Richman serves as the Chief Executive Officer (CEO) of Techtronic Industries (TTI), the parent company of Milwaukee Tool. He succeeded Joseph Galli Jr., who retired after 18 years in the role. Richman’s promotion followed his 17-year tenure as President of Milwaukee Tool, where he led the company through significant growth and innovation.
Career Background and Industry Experience
Steve Richman holds a Bachelor of Arts degree in Political Science with a focus on business from the University of California, Los Angeles (UCLA). With over 35 years in the power tool and outdoor equipment industry, Richman has held key management positions at BLACK & DECKER®, SKIL®, and BOSCH® Power Tools. His extensive experience spans industrial, electrical, plumbing, and retail distribution operations.
Leadership at Milwaukee Tool
During his time at Milwaukee Tool, Richman oversaw a period of unprecedented growth. Under his leadership, the company achieved double-digit compounded annual revenue growth over the past decade. In 2023, Milwaukee Tool’s sales grew by 10.7%, reaching approximately $8.9 billion. The workforce expanded to over 21,000 employees worldwide.
Strategic Vision and Company Culture
Richman’s approach emphasizes innovation, user-centric design, and a collaborative culture. He believes in empowering employees and fostering an environment that encourages speed, agility, and urgency. This culture has been instrumental in Milwaukee Tool’s transformation into a global leader in cordless power tools, particularly with the development of the M12™ and M18™ cordless systems.
Role as CEO of Techtronic Industries
As CEO of TTI, Richman now oversees a portfolio of brands including Milwaukee Tool, Ryobi, Hoover, and Dirt Devil. His responsibilities encompass global product development, manufacturing operations, and sales and marketing strategies. Richman’s leadership is expected to maintain the company’s strategic direction and continue its trajectory of innovation and growth.
Board Membership and Recognition
In addition to his role at TTI, Richman serves on the board of directors of Traeger, Inc., a company known for its wood pellet grills. His contributions to the industry have been recognized through various accolades, including being named one of BizTimes Media’s Wisconsin 275 in 2022, highlighting the most influential business leaders in the state.
Where are Milwaukee Tools Made?
Milwaukee Tool is known for its commitment to quality and durability. One important aspect of this is the location of its manufacturing facilities. Understanding where Milwaukee tools are made helps customers appreciate the brand’s dedication to craftsmanship and innovation.
Manufacturing Locations in the United States
Milwaukee Tool has a strong manufacturing presence in the U.S. The company operates a large factory in Brookfield, Wisconsin, which is a central hub for producing many of its power tools and hand tools. This facility is vital for Milwaukee’s research, development, and assembly.
Additionally, Milwaukee Tool has expanded its manufacturing capabilities by opening a state-of-the-art facility in Mississippi. This factory, established in recent years, focuses on producing high-quality hand tools. The emphasis on American manufacturing reflects Milwaukee’s investment in maintaining close control over quality and supporting domestic jobs.
International Manufacturing Facilities
While Milwaukee Tool has a robust U.S. manufacturing base, it also relies on overseas production to meet global demand. Some components and finished products are manufactured in countries such as China, Mexico, and other parts of Asia. These international facilities help Milwaukee keep competitive pricing and supply efficiency.
However, the company maintains strict quality standards regardless of location. All overseas production sites follow Milwaukee Tool’s rigorous specifications to ensure consistency and durability.
Assembly and Quality Control
Milwaukee Tool combines both in-house assembly and outsourced manufacturing. Many products are assembled and tested in Milwaukee’s U.S. factories, ensuring a high level of quality control. The company invests heavily in quality assurance processes, including automated testing and human inspections.
Commitment to Quality Regardless of Location
No matter where Milwaukee tools are made, the company enforces strict quality controls. The design, engineering, and innovation primarily happen in the U.S., where the brand originated. This ensures all products meet professional-grade standards.
Annual Revenue of Milwaukee Tool
Milwaukee Tool, a subsidiary of Techtronic Industries (TTI), has demonstrated consistent growth in recent years. In 2024, the company’s sales increased by 11.6% in local currency, bringing its annual revenue to approximately $9.9 billion.
As a key contributor to TTI’s overall performance, Milwaukee Tool’s financial health reflects its strong market presence and ongoing innovation.
Below is an overview of the historical revenue of Milwaukee Tool from 2015-24:
| Year | Estimated Revenue (USD) | Year-over-Year Growth |
|---|---|---|
| 2024 | $9.9 billion | +11.6% |
| 2023 | $8.9 billion | +10.7% |
| 2022 | $8.0 billion | +12.5% |
| 2021 | $7.1 billion | +14.5% |
| 2020 | $6.2 billion | +10.7% |
| 2019 | $5.6 billion | +12.0% |
| 2018 | $5.0 billion | +11.1% |
| 2017 | $4.5 billion | +12.5% |
| 2016 | $4.0 billion | +11.1% |
| 2015 | $3.6 billion | — |
Brands Owned by Milwaukee Tool
As of 2025, Milwaukee Tool, a subsidiary of Techtronic Industries (TTI), owns and operates several specialized brands that enhance its offerings in the professional tool market. These brands focus on specific tool categories, allowing Milwaukee Tool to provide a comprehensive range of high-quality products.
Here’s a detailed overview of the brands owned by Milwaukee Tool as of 2025:
| Brand Name | Year Acquired | Headquarters Location | Product Focus | Strategic Role in Milwaukee Tool |
|---|---|---|---|---|
| Empire Level | 2014 | Mukwonago, Wisconsin, USA | Measuring tools: levels, squares, layout tools | Enhances Milwaukee’s layout and measurement tool segment |
| Stiletto Tools | 2007 | Winton, California, USA | Titanium hammers and premium hand tools | Serves premium framing and carpentry markets |
| Imperial Blades | 2018 | Sun Prairie, Wisconsin, USA | Oscillating multi-tool blades and accessories | Strengthens Milwaukee’s position in cutting accessories |
| C4 Carbides | Not publicly disclosed (around 2017–2018) | Newmarket, United Kingdom | Carbide and diamond abrasives and blades | Boosts Milwaukee’s abrasives and blade technology |
Empire Level
Acquired by Milwaukee Tool in 2014, Empire Level is a leading manufacturer of precision measuring tools, including levels, squares, and layout tools. Established in 1919 and based in Mukwonago, Wisconsin, Empire Level is renowned for its innovation and accuracy in measurement tools, catering to professionals in construction and carpentry.
Stiletto Tools
Milwaukee Tool expanded into the premium hand tool market by acquiring Stiletto Tools in 2007. Stiletto is known for its lightweight titanium hammers and hand tools, which are favored by professional carpenters and framers for their durability and reduced user fatigue.
Imperial Blades
In 2018, Milwaukee Tool acquired Imperial Blades, a manufacturer specializing in oscillating multi-tool blades and accessories. Based in Sun Prairie, Wisconsin, Imperial Blades is recognized for its high-quality cutting solutions compatible with a variety of multi-tool brands, serving both professionals and DIY enthusiasts.
C4 Carbides
C4 Carbides, based in Newmarket, United Kingdom, is another subsidiary of Milwaukee Tool. The company specializes in manufacturing high-performance carbide and diamond abrasives, enhancing Milwaukee Tool’s capabilities in providing durable and efficient cutting solutions.
Final Words
Milwaukee is a globally recognized tool manufacturer with deep roots in American industry. Today, it is owned by Techtronic Industries, a global power tools and appliances giant based in Hong Kong. Through smart leadership and strong shareholder backing, Milwaukee continues to innovate in the power tool space. The question of who owns Milwaukee points to a powerful international network focused on growth and quality.
FAQs
Who is Milwaukee Tools owned by?
Milwaukee Tools is owned by Techtronic Industries (TTI), a global company headquartered in Hong Kong. TTI acquired Milwaukee in 2005 and has since expanded its product range and global reach.
Are Milwaukee and DeWalt the same company?
No, Milwaukee and DeWalt are not the same company. Milwaukee is owned by Techtronic Industries (TTI), while DeWalt is a brand under Stanley Black & Decker. They are competitors in the power tools market.
Who owned Milwaukee before TTI?
Before being acquired by Techtronic Industries in 2005, Milwaukee Tool was privately owned as an independent company founded in 1924.
Is Milwaukee a Japanese brand?
No, Milwaukee is not a Japanese brand. It was founded in Milwaukee, Wisconsin, USA, and remains an American-origin company.
Is Milwaukee made in China?
Some Milwaukee tools or components are manufactured in China and other countries to meet global demand. However, many products, especially higher-end lines, are made or assembled in the USA.
Is TTI a Chinese company?
Techtronic Industries (TTI) is a Hong Kong-based company, which means it is headquartered in the Hong Kong Special Administrative Region of China. It is a multinational corporation with manufacturing facilities worldwide.
Is Milwaukee a USA company?
Milwaukee Tool was founded in the USA and maintains significant operations there, including manufacturing and R&D. However, it is now a subsidiary of TTI, which is headquartered in Hong Kong.
Why is Milwaukee so popular?
Milwaukee is popular for its durable, high-quality professional-grade tools. The brand is known for innovation, especially in cordless power tools, long battery life, and tool reliability, which appeals to professionals and serious DIYers.
Is Ryobi owned by Milwaukee?
No, Ryobi is not owned by Milwaukee Tool. Ryobi is also a subsidiary of Techtronic Industries (TTI), but Milwaukee and Ryobi operate as separate brands within TTI’s portfolio.
Who builds Milwaukee tools?
Milwaukee tools are designed and engineered primarily in the USA. Manufacturing and assembly take place in various locations worldwide, including U.S. factories in Wisconsin and Mississippi, as well as international facilities in China, Mexico, and others, all under Milwaukee’s strict quality standards.