When it comes to power tools, the name RIDGID is one that is well-known and respected in the industry. For over 90 years, the company has been producing innovative and high-quality tools that are designed to meet the needs of professionals and DIY enthusiasts alike. However, in recent years, there has been some confusion and speculation surrounding the ownership of the company. In this article, we will explore the question – Who bought out RIDGID?
The History of RIDGID
RIDGID was founded in 1923 in North Ridgeville, Ohio, by Carl H. Clemens. The company started out producing a range of hand tools, including pipe wrenches and vises. Over the years, they expanded their product line to include power tools and other equipment, such as plumbing and HVAC equipment.
In 1966, the Emerson Electric Company acquired RIDGID, and the brand became part of the Emerson Tool Company. Emerson Electric is a multinational corporation that produces a wide range of products, including appliances, electronics, and industrial equipment.
The Rumors About RIDGID’s Ownership
In recent years, there has been some confusion and speculation about who owns RIDGID. Some people have suggested that the brand has been bought out by another company, while others have claimed that it has been sold to a private equity firm.
Part of the confusion may be due to the fact that RIDGID is often associated with Home Depot. The home improvement retailer is one of the biggest distributors of RIDGID tools, and many people assume that they also own the brand.
The Truth About RIDGID’s Ownership
Despite the rumors and speculation, the truth is that RIDGID is still owned by the Emerson Electric Company. While it is true that Emerson has sold off some of their other tool brands in recent years, they have not sold RIDGID.
It is important to note that while Home Depot is a major distributor of RIDGID tools, they do not own the brand. RIDGID is still a part of the Emerson Tool Company, which is a subsidiary of the Emerson Electric Company.
What This Means for Consumers
For consumers who love and trust RIDGID tools, this news should come as a relief. The brand is still owned by a reputable and established company, and they are still committed to producing high-quality products that meet the needs of professionals and DIY enthusiasts.
While there may be some uncertainty and speculation surrounding the ownership of RIDGID, the truth is that the brand is still in good hands. Consumers can continue to rely on RIDGID tools for their projects, knowing that they are backed by a company with a long history of innovation and quality.
Conclusion
So, who bought out RIDGID? The answer is that no one has. The brand is still owned by the Emerson Electric Company, and they are still committed to producing high-quality tools that meet the needs of professionals and DIY enthusiasts. While there may be some confusion and speculation surrounding the ownership of the brand, the truth is that RIDGID is still a trusted and respected name in the power tool industry.
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FAQs for Who Bought Out RIDGID?
1. Who is the new owner of RIDGID?
The new owner of RIDGID is Emerson, a global technology and engineering company.
2. When did Emerson acquire RIDGID?
Emerson acquired RIDGID in 1966.
3. Has RIDGID changed since being acquired by Emerson?
While RIDGID is still a well-known and respected brand in the tool industry, it has undergone some changes since being acquired by Emerson. For example, the company has expanded its product line and has increased its focus on innovation.
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