Posted May 20, 2010
Steelmax announces ownership change
Steelmax Tools LLC, Centennial, Colo., completed the acquisition of the Steelmax business in April.
The new owners, Kevin Allen and Pete Smith, plan to expand existing domestic market share, and achieve growth through export sales and continued innovation and development of high-quality metal working products for professionals, the company said.
Steelmax is a specialty power tool brand that primarily serves the industrial and welding supply markets.
"Steelmax Tools LLC will continue operating under the Steelmax brand name and continue to provide the high-quality products and great customer service and support for which Steelmax has always been known," according to a company statement.
Steelmax offers portable magnetic drills, metal cutting saws and other metalworking tools and a complete line of carbide tipped blades and annular cutters.
Steelmax also announced the expansion of its magnetic drill line with the introduction of its D2X drill. Additional new product introductions are planned throughout 2010 and 2011.
