Malco Tools Celebrates 75 Years of Tool Manufacturing
Malco Tools celebrated its 75th anniversary on May 17, 2025, with a ribbon cutting ceremony and open house at its newly remodeled building in Annandale, Minnesota.
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Malco Tools celebrated its 75th anniversary during a ribbon-cutting ceremony on Saturday, May 17, 2025. Pictured, from left to right: The Malco Group CFO Mike Hemmesch, Wright County Commissioner Tina Diedrick, Annandale Mayor Shelly Jonas, The Malco Group CEO Rich Benninghoff, members of the founding Keymer family: Gerry, Dave and Paul Keymer, former Malco executive Don Schmidt, and The Malco Group director of engineering Greg Guse. |
The celebration was attended by Malco employees, Annandale community members, and local dignitaries and representatives from the U.S. Senate, Wright County and the City of Annandale, which officially proclaimed the date “Malco Tools Day.”
“Malco’s 75th anniversary serves as a tribute to 75 years of hard work and progress, a true celebration of American manufacturing, rooted in Minnesota and powered by our people,” said Rich Benninghoff, CEO of The Malco Group. “This milestone also serves as a celebratory turning point as we look ahead to the future. We are all energized by what’s ahead for The Malco Group.”
Malco Tools was founded in 1950 by Mark W. Keymer, a young steel supply salesman, who invented a pipe crimper for installing sheet metal ductwork used in forced air heating systems.
The company started in a small garage in Minneapolis before moving to its current headquarters in Annandale, where the company now employs 170+ associates. Keymer was later inducted into the Minnesota Inventors’ Hall of Fame in 2007.
As parts of the celebration, a ribbon cutting ceremony was held for the completion of the substantial building remodeling that was completed as part of the company’s “Look Good, Feel Good, Do Good” initiative. Local and federal government officials, as well as members of the community, were invited to experience the updated workspaces and see how Malco manufactures and ships its products.
Malco became an employee-owned ESOP in 2015 after the Keymer family sold their final shares back to the company. It remained as such until late 2024 when Malco Tools was acquired by Aspen Pumps Group.
The company was named was named as a Top Workplace by The Star Tribune in 2024 and was also one of just 1,500 companies nationwide to receive a Top Workplace recognition from USA Today in 2025, demonstrating its commitment to creating an outstanding culture and workplace.
Benninghoff said Malco Tools is looking ahead to its next 75 years in business as part of The Malco Group, a specialized portfolio of North American brands providing high quality products and solutions to professionals in the HVACR industry.
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