Matco Tools
{{Short description|American professional tool distributor}}
{{Infobox company
| name = Matco Tools
| logo = Matco Tools logo.svg
| logo_size = 250px
| type = Subsidiary of Vontier
| foundation = {{start date and age|1946}}
| founder =
| key_people = Timothy Gilmore (CEO)
| num_employees =
| industry = Manufacturing
| revenue =
| products = Professional hand tools
| parent = Vontier
| homepage = {{URL|https://www.matcotools.com/}}
}}
Matco Tools, Inc. is an American professional tool distribution franchise for the automotive and other industries[http://www.iknowauto.com/detail/588/matco-tools-com.html Detail: Matco Tools.com] {{webarchive|url=https://web.archive.org/web/20080720093338/http://www.iknowauto.com/detail/588/matco-tools-com.html |date=2008-07-20 }} and is based in Stow, Ohio, United States. This includes over 13,000 different tools such as wrenches, screw drivers, gauges, and specialty tools. Matco produces their own line of toolboxes in their Jamestown, NY manufacturing plant. They manufacture and contract the production of many air tools, electric tools, hand tools and diagnostic tools.http://autorepair.about.com/cs/tools/a/aa081800a.htm {{Webarchive|url=https://web.archive.org/web/20080928180026/http://autorepair.about.com/cs/tools/a/aa081800a.htm |date=2008-09-28 }} About.com comparison of different professional tools The company was founded by Bill Mattison and Joe Cornwell. They combined their names to form the company's name, Matco, in 1946 and began selling direct to professional mechanics in 1979.[http://www.matcotools.com/about/about.jsp About Matco Tools] Originally Matco was the box manufacturing division of Mac Tools. However, they have not been associated with Mac since Matco Tools was formed in 1979. Former corporate owner Danaher spun off several subsidiaries, including Matco, in 2016 to create Fortive.{{cite web|author1=Zacks Equity Research|title=Danaher Completes Fortive Spin-Off, Trading to Begin Today|url=https://finance.yahoo.com/news/danaher-completes-fortive-spin-off-125312990.html|website=Yahoo Finance|access-date=5 July 2016}} Fortive, in turn, spun off Matco and other brands as Vontier in 2020.{{Cite press release | url=https://www.businesswire.com/news/home/20201009005094/en/Fortive-Completes-Spin-off-of-Vontier | title=Fortive Completes Spin-off of Vontier | publisher=Business Wire | date=October 9, 2020}}
Distribution
Similar to Snap-on, Cornwell and many Mac Tools dealers, Matco Tools are sold by a local tool distributor who owns a territory by means of a franchise.http://www.franchising.com/matco/ Franchising Info{{cite web |url=http://www.selectfranchiselist.com/franchise/Matco-Tools/ |title=Select Franchises, LLC - Matco Tools |access-date=2007-12-28 |url-status=dead |archive-url=https://web.archive.org/web/20080120075044/http://www.selectfranchiselist.com/franchise/Matco-Tools/ |archive-date=2008-01-20 }} Franchising Info The franchise owner drives to the work locations of potential customers, and typically offers financing to individuals looking to buy their tools. Matco trucks are easily identified by their white color with large blue and red Matco logo on the side.
NMTC, Inc. d/b/a/Matco Tools ("MATCO") is a Delaware corporation, incorporated on January 12, 1993. Matco is a wholly owned subsidiary of Matco Tools Corporation ("MTC"). MTC is a New Jersey corporation.
Matco has used Fortive Business System (FBS) to grow its distribution model and build strong customer and franchisee relationships through digital marketing.{{Cite web|url=https://www.fortive.com/our-businesses/franchise-distribution/matco-tools|title=Matco Tools {{!}} Fortive|website=www.fortive.com|access-date=2020-04-02}}
Wage theft
On April 28, 2022, Matco Tools paid more than $15 million to resolve allegations that it misclassified employees (California Distributors) as contractors in order to avoid paying its workers overtime pay and deny them of their mandated breaks.{{Cite web |title=Fleming v. Matco Tools Corp., Case No. 19-cv-00463-WHO {{!}} Casetext Search + Citator |url=https://casetext.com/case/fleming-v-matco-tools-corp-2/ |access-date=2022-09-18 |website=casetext.com}}
Motorsport sponsorships
Matco sponsors, or has sponsored, several professional racing teams, including 4-time Top Fuel champion and 45-time NHRA winner Antron Brown,http://www.racingone.com/article.aspx?artnum=39020 Antron Brown article and NHRA Super Comp champion and Funny Car racer Jack Beckman.[http://dragracecentral.com/DRCStory.asp?ID=123093 Jack Beckman to Replace Whit Bazemore at DSR]
References
{{reflist}}
External links
- {{Official website|https://www.matcotools.com/}}
{{Tool manufacturers}}
Category:Tool manufacturing companies of the United States
Category:Manufacturing companies based in Ohio
Category:Manufacturing companies established in 1946