{"id":22373,"date":"2026-06-13T14:06:52","date_gmt":"2026-06-13T14:06:52","guid":{"rendered":"https:\/\/www.quantumrun.com\/consulting\/?p=22373"},"modified":"2026-06-13T14:06:54","modified_gmt":"2026-06-13T14:06:54","slug":"who-owns-milwaukee","status":"publish","type":"post","link":"https:\/\/www.quantumrun.com\/consulting\/who-owns-milwaukee\/","title":{"rendered":"Who Owns Milwaukee"},"content":{"rendered":"\n<style>\n.mke-stats{background:#f5f7fa;border:1px solid #e6eaef;border-radius:12px;padding:22px 26px;margin:22px 0}\n.mke-stats ul{margin:0;padding-left:20px}\n.mke-stats li{margin:0 0 10px}\n.mke-stats li:last-child{margin-bottom:0}\n.mke-cards{display:grid;grid-template-columns:repeat(auto-fit,minmax(240px,1fr));gap:18px;margin:18px 0}\n.mke-card{border:1px solid #e6eaef;border-radius:12px;padding:20px 22px;background:#fff;box-shadow:0 1px 2px rgba(20,25,30,.04)}\n.mke-card h4{margin-top:0;color:#16191d;text-transform:none;letter-spacing:0;font-size:18px}\n.mke-card ul{margin:0;padding-left:18px}\n.mke-card li{margin:0 0 8px;font-size:15.5px}\n.mke-card li:last-child{margin-bottom:0}\n.mke-timeline{border-left:2px solid #d8431f;margin:12px 0 8px;padding-left:24px}\n.mke-timeline .mke-item{position:relative;margin:0 0 18px}\n.mke-timeline .mke-item:before{content:\"\";position:absolute;left:-31px;top:5px;width:11px;height:11px;border-radius:50%;background:#d8431f}\n.mke-year{font-weight:700;color:#9a2b1f;margin-right:6px}\n.mke-chart-wrap{margin:24px 0;border:1px solid #e6eaef;border-radius:12px;padding:18px 16px}\n.mke-chart-wrap p.mke-cap{font-size:14px;color:#5b636e;margin:0 0 10px;text-align:center;font-weight:600}\n.mke-chart-box{position:relative;width:100%;height:300px}\n.mke-chart-box.tall{height:320px}\n.mke-faq details{border:1px solid #e6eaef;border-radius:10px;margin:0 0 12px;background:#fff;overflow:hidden}\n.mke-faq summary{cursor:pointer;list-style:none;padding:16px 20px;display:flex;justify-content:space-between;align-items:center;transition:background .2s ease}\n.mke-faq summary::-webkit-details-marker{display:none}\n.mke-faq summary:hover{background:#f5f7fa}\n.mke-faq summary:after{content:\"+\";font-size:22px;color:#d8431f;font-weight:400;transition:transform .25s ease}\n.mke-faq details[open] summary:after{content:\"\\2212\"}\n.mke-faq details[open] summary{background:#f5f7fa}\n.mke-faq .mke-ans{padding:0 20px;max-height:0;overflow:hidden;transition:max-height .3s ease,padding .3s ease}\n.mke-faq details[open] .mke-ans{padding:0 20px 16px;max-height:400px}\n.mke-faq .mke-ans p{margin:0;color:#3a424c}\n.mke-article a{color:#b5341f;text-decoration:underline}\n@media(max-width:600px){.mke-article{font-size:16px}.mke-article h2{font-size:23px}}\n<\/style>\n\n<div class=\"mke-article\">\n\n<p>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&#8217;s flagship professional tool business, with global research and development based in Brookfield, Wisconsin.<\/p>\n\n<div class=\"mke-stats\">\n<ul>\n<li>Techtronic Industries bought Milwaukee Tool in 2005 for US$626.6 million.<\/li>\n<li>TTI recorded sales of US$15.3 billion in 2025.<\/li>\n<li>The Pudwill family holds about 21% of TTI shares.<\/li>\n<li>TTI employed 48,318 people at the end of December 2025.<\/li>\n<li>The Milwaukee Electric Tool Corporation started in 1924.<\/li>\n<\/ul>\n<\/div>\n\n<div class=\"mke-chart-wrap\">\n<p class=\"mke-cap\">Techtronic Industries annual revenue (US$ billion)<\/p>\n<div class=\"mke-chart-box\"><canvas id=\"mkeRevChart\"><\/canvas><\/div>\n<\/div>\n\n<h2>Who Owns Milwaukee?<\/h2>\n<p>Milwaukee Tool is a wholly owned subsidiary of Techtronic Industries. It does not trade on its own and is not an independent company.<\/p>\n<p>TTI carries stock code 669 on the Hong Kong Stock Exchange and trades in the United States as the ADR TTNDY. Many <a href=\"https:\/\/quantumrun.com\/future-timeline\/2026\/future-timeline-subpost-technology\">near-term technology forecasts<\/a> point to continued demand for the cordless platforms TTI builds its growth on.<\/p>\n<p>The brand has belonged to TTI since 2005. Earlier owners included Amstar, Merrill Lynch Capital Partners, and Sweden&#8217;s Atlas Copco.<\/p>\n\n<h3>Milwaukee Origin, Founders and Early Years<\/h3>\n<p>A.H. Petersen built the Hole-Shooter in 1918, a five-pound, one-handed drill commissioned by Henry Ford for car assembly lines.<\/p>\n<p>Petersen and Albert F. Siebert formed the A.H. Petersen Company in 1922. A fire closed the business a year later.<\/p>\n<p>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 <a href=\"https:\/\/quantumrun.com\/prediction\/jobs-will-survive-automation-future-work-p3\">trades expected to withstand automation<\/a>. The headquarters moved to Brookfield, Wisconsin, in 1965.<\/p>\n\n<h3>Largest Shareholders of Milwaukee<\/h3>\n<div class=\"mke-cards\">\n<div class=\"mke-card\">\n<h4>Pudwill family<\/h4>\n<ul>\n<li>Single largest shareholder of TTI<\/li>\n<li>Holds roughly 21% of the shares<\/li>\n<li>Co-founder Horst Julius Pudwill serves as Executive Chairman<\/li>\n<\/ul>\n<\/div>\n<div class=\"mke-card\">\n<h4>Institutional investors<\/h4>\n<ul>\n<li>Hold the majority of TTI stock<\/li>\n<li>Include The Vanguard Group and BlackRock<\/li>\n<li>Account for about 54% of shares<\/li>\n<\/ul>\n<\/div>\n<div class=\"mke-card\">\n<h4>Public float<\/h4>\n<ul>\n<li>Remaining shares trade on the Hong Kong Stock Exchange<\/li>\n<li>Listed under stock code 669<\/li>\n<li>U.S. buyers use the TTNDY ADR<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<div class=\"mke-chart-wrap\">\n<p class=\"mke-cap\">Approximate TTI ownership structure<\/p>\n<div class=\"mke-chart-box tall\"><canvas id=\"mkeOwnChart\"><\/canvas><\/div>\n<\/div>\n\n<h3>Who Is on the Board of Directors for Milwaukee?<\/h3>\n<h4>Leadership and Strategy<\/h4>\n<div class=\"mke-timeline\">\n<div class=\"mke-item\"><span class=\"mke-year\">1985<\/span>Horst Julius Pudwill co-founded TTI and now chairs the board as Executive Chairman.<\/div>\n<div class=\"mke-item\"><span class=\"mke-year\">2006<\/span>Stephan Horst Pudwill joined the board and became Executive Vice Chairman in 2016.<\/div>\n<div class=\"mke-item\"><span class=\"mke-year\">2024<\/span>Steven Richman became CEO and Group Executive Director after 17 years leading Milwaukee Tool.<\/div>\n<\/div>\n<h4>Operations and Manufacturing<\/h4>\n<div class=\"mke-timeline\">\n<div class=\"mke-item\"><span class=\"mke-year\">Now<\/span>Patrick Kin Wah Chan serves as Operations Director, covering production and supply.<\/div>\n<\/div>\n<h4>Finance and Governance<\/h4>\n<div class=\"mke-timeline\">\n<div class=\"mke-item\"><span class=\"mke-year\">Now<\/span>Frank Chi Chung Chan serves as Group Chief Financial Officer.<\/div>\n<div class=\"mke-item\"><span class=\"mke-year\">Now<\/span>Camille Jojo heads Group Legal, Compliance and Corporate Governance.<\/div>\n<div class=\"mke-item\"><span class=\"mke-year\">Now<\/span>Eight independent non-executive directors, including Peter Sullivan and Robert Getz, round out the board.<\/div>\n<\/div>\n\n<h2>Milwaukee Products and Services<\/h2>\n<div class=\"mke-cards\">\n<div class=\"mke-card\">\n<h4>Cordless tool systems<\/h4>\n<ul>\n<li>M12 and M18 battery platforms<\/li>\n<li>MX FUEL for heavy equipment<\/li>\n<li>Drills, saws, grinders, and impact drivers<\/li>\n<\/ul>\n<\/div>\n<div class=\"mke-card\">\n<h4>Hand tools and storage<\/h4>\n<ul>\n<li>Pliers, knives, and measuring tools<\/li>\n<li>PACKOUT modular storage<\/li>\n<li>Personal protective equipment<\/li>\n<\/ul>\n<\/div>\n<div class=\"mke-card\">\n<h4>Jobsite and outdoor<\/h4>\n<ul>\n<li>Lighting and site cleanup gear<\/li>\n<li>Cordless outdoor power equipment<\/li>\n<li>Tool accessories and blades<\/li>\n<\/ul>\n<\/div>\n<div class=\"mke-card\">\n<h4>Digital services<\/h4>\n<ul>\n<li>ONE-KEY tool tracking<\/li>\n<li>Inventory management tools<\/li>\n<li>Tool setup and reporting<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<h2>How Did Milwaukee Get Its Name?<\/h2>\n<p>The name comes from Milwaukee, Wisconsin, the city where the company took shape.<\/p>\n<p>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.<\/p>\n<p>He registered it as the Milwaukee Electric Tool Corporation in 1924, tying the firm to its home city.<\/p>\n<p>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&#8217;s name in markets worldwide.<\/p>\n\n<h2>Milwaukee Mission Statement<\/h2>\n<p>Milwaukee builds its work around the people who use its tools. The company describes the user as the single foundation of everything it makes.<\/p>\n<p>Field teams watch tradespeople through a full workday to find the pain points that slow them down on the jobsite.<\/p>\n<p>That research shapes new products meant to make users safer and more productive, a pattern that tracks with <a href=\"https:\/\/quantumrun.com\/future-timeline\/2029\">how automation is reshaping factory floors<\/a>. The stated goal is long-term trust earned through tools that perform every day.<\/p>\n\n<h2>FAQ<\/h2>\n<div class=\"mke-faq\">\n<details>\n<summary>Is Milwaukee an American company?<\/summary>\n<div class=\"mke-ans\"><p>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.<\/p><\/div>\n<\/details>\n<details>\n<summary>Who owns Milwaukee?<\/summary>\n<div class=\"mke-ans\"><p>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.<\/p><\/div>\n<\/details>\n<details>\n<summary>What is Milwaukee&#8217;s market cap in 2026?<\/summary>\n<div class=\"mke-ans\"><p>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$217 billion.<\/p><\/div>\n<\/details>\n<details>\n<summary>When did Milwaukee come out?<\/summary>\n<div class=\"mke-ans\"><p>Albert F. Siebert founded the Milwaukee Electric Tool Corporation in 1924. The brand grew from the Hole-Shooter drill, a one-handed power drill A.H. Petersen developed in 1918 for Henry Ford.<\/p><\/div>\n<\/details>\n<details>\n<summary>Is Milwaukee still operational?<\/summary>\n<div class=\"mke-ans\"><p>Yes. Milwaukee Tool operates as TTI&#8217;s flagship professional brand and recorded double-digit local-currency growth in 2025. It runs global research and development from Brookfield, Wisconsin.<\/p><\/div>\n<\/details>\n<\/div>\n\n<\/div>\n\n<script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js@4.4.1\/dist\/chart.umd.min.js\"><\/script>\n<script>\n(function(){\nfunction draw(){\nif(typeof Chart===\"undefined\"){setTimeout(draw,200);return;}\nvar rev=document.getElementById(\"mkeRevChart\");\nif(rev){new Chart(rev,{type:\"bar\",data:{labels:[\"2022\",\"2023\",\"2024\",\"2025\"],datasets:[{label:\"Revenue (US$B)\",data:[13.25,13.73,14.62,15.30],backgroundColor:\"#d8431f\",borderRadius:6,maxBarThickness:64}]},options:{responsive:true,maintainAspectRatio:false,plugins:{legend:{display:false},tooltip:{callbacks:{label:function(c){return \"US$\"+c.parsed.y+\"B\";}}}},scales:{y:{beginAtZero:false,suggestedMin:12,grid:{color:\"#eef1f5\"},ticks:{callback:function(v){return \"$\"+v+\"B\";}}},x:{grid:{display:false}}}}});}\nvar own=document.getElementById(\"mkeOwnChart\");\nif(own){new Chart(own,{type:\"doughnut\",data:{labels:[\"Institutional investors\",\"Pudwill family\",\"Other public float\"],datasets:[{data:[54,21,25],backgroundColor:[\"#16324f\",\"#d8431f\",\"#9aa7b4\"],borderColor:\"#fff\",borderWidth:2}]},options:{responsive:true,maintainAspectRatio:false,cutout:\"58%\",plugins:{legend:{position:\"bottom\",labels:{padding:16,font:{size:13}}},tooltip:{callbacks:{label:function(c){return c.label+\": \"+c.parsed+\"%\";}}}}}});}\n}\ndraw();\n})();\n<\/script>\n\n","protected":false},"excerpt":{"rendered":"<p>Who owns Milwaukee Tool? Learn how Techtronic Industries acquired the iconic power tool brand, its ownership history, major shareholders, company background, and whether Milwaukee remains an American company today.<\/p>\n","protected":false},"author":1,"featured_media":22374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[244],"tags":[],"class_list":["post-22373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-who-owns"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Who Owns Milwaukee<\/title>\n<meta name=\"description\" content=\"Who owns Milwaukee Tool? 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