“Malco Tools Day” proclaimed during open house & ribbon-cutting ceremony at renovated headquarters in Annandale, Minn.
ANNANDALE, MINN. (May 20, 2025) — Malco Tools, one of the nation’s leading solution developers and manufacturers of high-quality tools for the HVACR and building construction trades, celebrated its 75th anniversary on May 17, 2025, with a ribbon-cutting ceremony and open house at its newly remodeled building in Annandale, Minn.
The celebration was attended by Malco employees, Annandale community members, 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 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.
Malco recently completed a substantial building remodel as part of its “Look Good, Feel Good, Do Good” initiative. It welcomed the community to experience the updated workspaces and see how Malco manufactures and ships its products from Central Minnesota.
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.
“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 became an employee-owned ESOP in 2015 after the Keymer family sold their final shares back to the company. The company remained employee-owned until late 2024, when Aspen Pumps Group acquired Malco Tools, providing significant value to the hundreds of employee-owners who are still employed by Malco today.
With a continued focus on people, Malco Tools was named 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, further demonstrating the company’s commitment to creating an outstanding culture and workplace.
Now, Malco looks ahead to its next 75 years in business as part of The Malco Group, a specialized portfolio of North American brands that provides high-quality products and solutions to HVACR industry professionals.
For more information, visit the Malco Tools website.
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About Malco Tools, Inc.
Malco Tools, Inc., based in Annandale, Minnesota, is one of the nation’s leading solution developers and manufacturers of various high-quality specialty hand tools for the HVAC and building construction trades. Backed by 75 years of history, these specialized tools are built to last, rigorously tested, and backed by a limited lifetime warranty. Malco earned a Manufacturing Excellence Award from Twin Cities Business Magazine in 2022 and was named the Medium Manufacturer of the Year in 2018 and 2024 by the Minneapolis/St. Paul Business Journal. Malco has also been recognized as a Top Workplace by Star Tribune in 2018, 2019, and 2024.
Malco Tools is part of The Malco Group — a leading manufacturer and distributor of high-quality HVACR and building construction products that power the success of trade pro end users. For more information, visit the Malco Tools website.