Milwaukee Tool, formally the Milwaukee Electric Tool Corporation, is owned by Hong Kong-listed Techtronic Industries (TTI). In 2025 the brand again recorded double-digit local-currency sales growth and stayed TTI’s flagship professional tool business, with global research and development based in Brookfield, Wisconsin.
- Techtronic Industries bought Milwaukee Tool in 2005 for US$626.6 million.
- TTI recorded sales of US$15.3 billion in 2025.
- The Pudwill family holds about 21% of TTI shares.
- TTI employed 48,318 people at the end of December 2025.
- The Milwaukee Electric Tool Corporation started in 1924.
Techtronic Industries annual revenue (US$ billion)
Who Owns Milwaukee?
Milwaukee Tool is a wholly owned subsidiary of Techtronic Industries. It does not trade on its own and is not an independent company.
TTI carries stock code 669 on the Hong Kong Stock Exchange and trades in the United States as the ADR TTNDY. Many near-term technology forecasts point to continued demand for the cordless platforms TTI builds its growth on.
The brand has belonged to TTI since 2005. Earlier owners included Amstar, Merrill Lynch Capital Partners, and Sweden’s Atlas Copco.
Milwaukee Origin, Founders and Early Years
A.H. Petersen built the Hole-Shooter in 1918, a five-pound, one-handed drill commissioned by Henry Ford for car assembly lines.
Petersen and Albert F. Siebert formed the A.H. Petersen Company in 1922. A fire closed the business a year later.
Siebert bought the remaining assets and started the Milwaukee Electric Tool Corporation in 1924. Its drills later served the U.S. Navy, and the firm still supplies many trades expected to withstand automation. The headquarters moved to Brookfield, Wisconsin, in 1965.
Largest Shareholders of Milwaukee
Pudwill family
- Single largest shareholder of TTI
- Holds roughly 21% of the shares
- Co-founder Horst Julius Pudwill serves as Executive Chairman
Institutional investors
- Hold the majority of TTI stock
- Include The Vanguard Group and BlackRock
- Account for about 54% of shares
Public float
- Remaining shares trade on the Hong Kong Stock Exchange
- Listed under stock code 669
- U.S. buyers use the TTNDY ADR
Approximate TTI ownership structure
Who Is on the Board of Directors for Milwaukee?
Leadership and Strategy
Operations and Manufacturing
Finance and Governance
Milwaukee Products and Services
Cordless tool systems
- M12 and M18 battery platforms
- MX FUEL for heavy equipment
- Drills, saws, grinders, and impact drivers
Hand tools and storage
- Pliers, knives, and measuring tools
- PACKOUT modular storage
- Personal protective equipment
Jobsite and outdoor
- Lighting and site cleanup gear
- Cordless outdoor power equipment
- Tool accessories and blades
Digital services
- ONE-KEY tool tracking
- Inventory management tools
- Tool setup and reporting
How Did Milwaukee Get Its Name?
The name comes from Milwaukee, Wisconsin, the city where the company took shape.
After the 1923 fire ended the A.H. Petersen Company, Albert F. Siebert bought the assets at auction and reopened the operation on State Street in Milwaukee.
He registered it as the Milwaukee Electric Tool Corporation in 1924, tying the firm to its home city.
The name held through every later sale, including the 2005 purchase by Techtronic Industries. Most professionals shorten it to Milwaukee, and the red brand still carries the city’s name in markets worldwide.
Milwaukee Mission Statement
Milwaukee builds its work around the people who use its tools. The company describes the user as the single foundation of everything it makes.
Field teams watch tradespeople through a full workday to find the pain points that slow them down on the jobsite.
That research shapes new products meant to make users safer and more productive, a pattern that tracks with how automation is reshaping factory floors. The stated goal is long-term trust earned through tools that perform every day.
FAQ
Is Milwaukee an American company?
Milwaukee Tool started in the United States in 1924 and keeps its headquarters in Brookfield, Wisconsin. Ownership is foreign, since Hong Kong-based Techtronic Industries has owned the brand since 2005.
Who owns Milwaukee?
Techtronic Industries (TTI) owns Milwaukee Tool outright. TTI trades on the Hong Kong Stock Exchange under code 669. The Pudwill family is the largest shareholder, with about 21% of the stock.
What is Milwaukee’s market cap in 2026?
Milwaukee has no separate market cap because it is a TTI subsidiary. Parent company TTI held a market value near US$27.7 billion in May 2026, or about HK$217 billion.
When did Milwaukee come out?
Albert F. Siebert founded the Milwaukee Electric Tool Corporation in 1924. The brand grew from the Hole-Shooter drill, a one-handed power drill A.H. Petersen developed in 1918 for Henry Ford.
Is Milwaukee still operational?
Yes. Milwaukee Tool operates as TTI’s flagship professional brand and recorded double-digit local-currency growth in 2025. It runs global research and development from Brookfield, Wisconsin.
