Malco Tools, a prominent manufacturer of tools for the HVACR and building construction industries, commemorated its 75th anniversary on May 17, 2025. The festivities included a ribbon-cutting and open house at the company's newly refurbished facilities in Annandale, Minnesota.
Attendees at the event included Malco employees, members of the Annandale community, local dignitaries, and representatives from the U.S. Senate, Wright County, and the City of Annandale, which declared the day “Malco Tools Day.”
Historical Roots and Growth
Malco Tools began with the invention of a pipe crimper designed for installing sheet metal ductwork used
Established in 1950 by Mark W. Keymer, Malco Tools began with the invention of a pipe crimper designed for installing sheet metal ductwork used in forced air heating systems.
Initially operating out of a small garage in Minneapolis, the company eventually moved to Annandale, where it currently employs over 170 associates. Keymer's contributions to the field were recognized when he was inducted into the Minnesota Inventors’ Hall of Fame in 2007.
Facility Renovations and Community Engagement
Malco Tools recently completed significant renovations as part of its “Look Good, Feel Good, Do Good” initiative.
The latest updates offer modernized workspaces, enhancing the facility’s functionality and allowing the community to observe the manufacturing and shipping processes occurring in Central Minnesota.
Acquisition by Aspen Pumps Group
The company marked its milestone anniversary with reflections on its history and aspirations for the future. “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,” stated Rich Benninghoff, CEO of The Malco Group.
Having become an employee-owned ESOP in 2015, the company remained employee-owned until its acquisition by Aspen Pumps Group in late 2024. This change brought considerable value to the employee-owners who continue to work at Malco.
Recognition and Future Endeavors
In its commitment to a strong workplace culture, Malco Tools was named a Top Workplace by The Star Tribune in 2024 and was among 1,500 companies honored with similar recognition by USA Today in 2025.
Such accolades reflect the company's dedication to fostering an exceptional work environment. Looking ahead, Malco is set to continue its legacy as part of The Malco Group, contributing quality products and solutions tailored for HVACR professionals in North America.
