Modern Tool or Die Products
MTD Holdings, also known as Modern Tool & Die or MTD Products, is an American manufacturer and brand house for outdoor power equipment.
Last updated August 31, 2026
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Overview
Modern Tool & Die, commonly known as MTD Products or MTD Holdings, is an American manufacturer of outdoor power equipment serving residential and mass-market customers. The company is headquartered in Valley City, Ohio, and traces its origins to 1932, when Theo Moll, Emil Jochum, and Erwin Gerhard formed a partnership to acquire the assets of the Modern Tool and Die Company in Cleveland. The business initially operated as a tool-and-die maker, producing perforating dies and machinery used to form window channels. It later expanded into automotive stampings, including grilles for Graham-Paige automobiles, before moving progressively into consumer and recreational products. A major early diversification occurred in 1952, when MTD acquired a controlling interest in Midwest Industries. This gave the company manufacturing exposure to pedal bicycles, velocipedes, kiddie cars, and playground equipment. MTD entered garden equipment in 1954 with wheelbarrows and moved into powered lawn and garden equipment in 1958 with an 18-inch rotary mower. By 1959 it was producing self-propelled mowers, garden tractors, and related machinery. Snow throwers became another important category beginning in 1968. MTD developed through a combination of organic manufacturing expansion, acquisitions, licensing arrangements, and brand purchases. Its portfolio came to include Troy-Bilt, Bolens, Cub Cadet, Yard-Man, Remington, Rover, and other outdoor-equipment names. The company acquired Cub Cadet from International Harvester in 1981 and Garden Way, including Troy-Bilt and Bolens, in 2001. It also acquired the North American outdoor-products business of Ryobi in 2000, although the Ryobi outdoor-equipment brand was subsequently transferred to Ryobi Tools and its parent organization, Techtronic Industries. MTD later acquired Remington Chainsaws from Desa International, Rover Mowers in Australia, and Robomow, also known as Friendly Robotics. The company's manufacturing footprint expanded across the United States, Canada, Europe, and other markets. Facilities and operations were established or expanded in Tennessee, Kentucky, Mississippi, Hungary, and elsewhere. In addition to its own brands, MTD manufactured equipment for selected partners and customers, including low-end lawn and garden tractors for Toro and products sold under the Craftsman name. Craftsman equipment produced through the MTD relationship used Sears-related model numbering conventions in some product lines. MTD was historically a privately held company with majority family ownership. In 2018, Stanley Black & Decker announced an agreement to purchase a 20 percent interest for $234 million, with an option to acquire the remaining ownership beginning in 2021. Stanley Black & Decker exercised that option in 2021, making MTD a wholly owned subsidiary. The acquisition placed MTD's outdoor power equipment brands within Stanley Black & Decker's broader tools and outdoor-products portfolio while preserving MTD as a major operating platform in lawn, garden, snow, and related equipment. MTD's competitive environment includes Ariens, Briggs & Stratton, Husqvarna, John Deere, Stiga, Stihl, and The Toro Company. Its business is positioned around broad distribution, manufacturing scale, multi-brand coverage, and equipment for homeowners, landowners, and selected commercial users. Major product categories include walk-behind and riding lawn mowers, lawn and garden tractors, snow throwers, utility and handheld outdoor equipment, robotic mowers, and replacement or accessory products.
History
MTD began in Cleveland in 1932, when Theo Moll, Emil Jochum, and Erwin Gerhard formed a partnership to purchase the assets of the Modern Tool and Die Company. With an initial investment of $4,500, the business made perforating dies and a rolling machine used to produce window channels. It employed 12 people in 1933 and had grown to approximately 60 employees by 1934. In 1936, MTD entered automotive manufacturing by producing grille stampings for Graham-Paige automobiles. The company broadened its activities in 1952 through the purchase of a controlling interest in Midwest Industries. This acquisition added pedal bicycles, velocipedes, kiddie cars, and playground equipment to MTD's manufacturing base. MTD entered garden equipment in 1954 with wheelbarrows and entered powered lawn care in 1958 with an 18-inch rotary mower. The following year it began producing self-propelled mowers, garden tractors, and other powered equipment. Sehl Engineering of Canada was acquired in 1962, later becoming part of MTD's Canadian operations. Industrial Plastics Company was acquired in 1966, and MTD began bicycle production in the late 1960s. It introduced snow throwers in 1968. Brand and product expansion accelerated from the 1970s onward. MTD purchased the Yard-Man name from Montgomery Ward in 1975. It established a large manufacturing plant in Brownsville, Tennessee, in 1980, and in 1981 acquired the Cub Cadet product line from International Harvester as well as White Outdoor Products from the former White Motor Company. Further expansion included the Martin, Tennessee plant, Arnold Corporation, Aircap Industries, and a manufacturing facility in Leitchfield, Kentucky. A joint venture with Lesco created Commercial Turf Products in 1996. International and category expansion continued around the turn of the century. MTD opened a Hungarian manufacturing facility in 2000 and acquired Ryobi's North American outdoor-products business, gaining engine and handheld-equipment capacity. In 2001 it acquired Garden Way, bringing the Troy-Bilt and Bolens brands into the portfolio. MTD later stopped manufacturing outdoor products under the Ryobi name and transferred rights for the outdoor-products brand to Ryobi Tools and Techtronic Industries. In the following years, MTD produced equipment under the fmc brand for Europe, supplied low-end lawn and garden tractors to Toro, and supported Craftsman product lines. The company also acquired the Remington chainsaw brand in 2009, Rover Mowers in Australia in 2010, and Robomow in 2017. MTD's ownership structure changed substantially between 2018 and 2021. Stanley Black & Decker first agreed to purchase a 20 percent stake in 2018 for $234 million, with an option to acquire the remaining shares. That option was exercised in 2021, converting MTD from a primarily family-owned private company into a wholly owned Stanley Black & Decker subsidiary. MTD remains associated with a large portfolio of outdoor power equipment brands and operates within Stanley Black & Decker's broader tools and outdoor-products business.
- 2021
MTD becomes a Stanley Black & Decker subsidiary
[1]Stanley Black & Decker exercised its option to purchase the remaining ownership of MTD.
- 2018
Stanley Black & Decker takes a minority stake
[1]Stanley Black & Decker agreed to acquire a 20 percent interest in MTD for $234 million.
- 2017
Robomow acquired
[1]The acquisition of Robomow, also known as Friendly Robotics, expanded MTD into robotic lawn care.
- 2009
Remington chainsaw brand acquired
[1]MTD acquired the Remington Chainsaws brand from Desa International.
- 2001
Garden Way acquisition adds Troy-Bilt and Bolens
[1]MTD acquired Garden Way, bringing the Troy-Bilt and Bolens brands into its portfolio.
- 2000
Ryobi North American outdoor-products business acquired
[1]The acquisition expanded MTD's engine and handheld outdoor-equipment manufacturing capabilities.
- 1981
Cub Cadet and White Outdoor Products are acquired
[1]MTD acquired Cub Cadet from International Harvester and White Outdoor Products from the former White Motor Company.
- 1968
Snow thrower production begins
[1]MTD added snow throwers to its growing lawn and garden equipment portfolio.
- 1958
MTD enters powered lawn equipment
[1]The company introduced an 18-inch rotary mower and began its transition into outdoor power equipment.
- 1952
Midwest Industries acquisition
[1]The purchase of a controlling interest in Midwest Industries added bicycles, children's vehicles, and playground equipment.
Products and positioning
A broad, multi-brand outdoor power equipment manufacturer focused on residential and mass-market lawn, garden, snow, and related equipment, with additional manufacturing and supply relationships serving selected commercial and partner brands.
Lawn and garden equipment · 1981
Cub Cadet
Cub Cadet is one of MTD's principal outdoor-equipment brands. Its portfolio is associated with riding mowers, lawn and garden tractors, zero-turn equipment, walk-behind mowers, and related residential grounds-care products.
Residential outdoor power equipment · 2001
Troy-Bilt
Troy-Bilt is a major MTD brand for homeowner lawn and garden equipment. The range has included walk-behind mowers, tillers, snow throwers, cultivators, trimmers, and other products intended for residential property maintenance.
Lawn and garden equipment · 2001
Bolens
Bolens became part of MTD through the Garden Way acquisition. The brand has been used for consumer-oriented lawn and garden equipment, including mowing and seasonal outdoor-maintenance products.
Lawn and garden equipment · 1975
Yard-Man
Yard-Man is an MTD-associated equipment brand acquired from Montgomery Ward. It has covered lawn mowers, garden tractors, snow equipment, and other products for household outdoor maintenance.
Chainsaws and handheld outdoor equipment · 2009
Remington
MTD acquired the Remington Chainsaws brand in 2009. The brand broadened MTD's presence in chainsaws and related handheld outdoor power equipment.
Lawn mowers · 2010
Rover
Rover Mowers was acquired by MTD's Australian operation from GWA International. The brand is associated with lawn-mowing equipment in the Australian market.
Robotic lawn mowers · 2017
Robomow
Robomow, formerly associated with Friendly Robotics, gave MTD a dedicated robotic lawn-mowing offering and expanded its portfolio beyond conventional engine-powered equipment.
Bicycles · 1967
MTD bicycles
MTD produced bicycles beginning in the 1960s, with an emphasis on American-style muscle bikes. Its 1969 SS5 Chopper reflected the company's participation in the high-rise bicycle market. The MTD bicycle brand later faded while Columbia continued.
Brand decisions
2021
Complete sale to Stanley Black & DeckerM&ABackground
Following the 2018 minority investment, Stanley Black & Decker held an option to acquire the rest of MTD beginning in 2021.
Action taken
Stanley Black & Decker exercised the option and acquired the remaining ownership of MTD.
Aftermath
MTD became a wholly owned subsidiary and its brands joined Stanley Black & Decker's broader outdoor-products portfolio.
2018
Accept Stanley Black & Decker minority investmentM&ABackground
MTD was a primarily family-owned private company when Stanley Black & Decker sought entry into the outdoor power equipment sector.
Action taken
MTD agreed to sell Stanley Black & Decker a 20 percent interest for $234 million, together with an option covering the remaining ownership.
Aftermath
The transaction created a path for Stanley Black & Decker to obtain full ownership of MTD in 2021.
Purchase price for 20 percent interest. $234 million (2018)
Recent events
- 2021
Stanley Black & Decker completes acquisition of MTD[1]
M&A
Stanley Black & Decker exercised its option to acquire the remaining ownership of MTD, making the outdoor power equipment company a wholly owned subsidiary.
- 2018
Stanley Black & Decker agrees to acquire a minority stake in MTD Products[1]
M&A
Stanley Black & Decker announced an agreement to acquire a 20 percent interest in MTD Products for $234 million and received an option to purchase the remaining ownership at a later date.
- 2017
MTD acquires Robomow[1]
M&A · Product generation
MTD acquired Robomow, also known as Friendly Robotics, expanding its portfolio into robotic lawn-mowing equipment.
Sources1 sources
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