Latest from Industry

Illustration_60886103 / Kheng To To / Dreamstime
Iillustration_60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 / Kheng Ho To / Dreamstime

Maxis Corp. Acquires Innovative Tool Co.

Aug. 15, 2003
Maxis Corp., Gilbert, Ariz., has acquired Innovative Tool Co., Albuquerque, a developer of tools for the electrical market.

An Arizona-based manufacturer that specializes in developing new products with electrical contractors has purchased another small tool company in the Southwest.

Maxis Corp., Gilbert, Ariz., has acquired Innovative Tool Co., Albuquerque, a developer of tools for the electrical market. David Jordan, president, Innovative Tool Co., used his job-site experience as an electrical contractor to found the company and develop electricians’ tools. In 2002, the Marksman, a conduit-marking device, won a NECA Showstopper award and was a CEE News Product of the Month.

“We’re excited to work with Maxis,” says David Jordan, president, Innovative Tool. “They are a young and aggressive company that will provide the right distribution network for our line.” The line of tools acquired from Innovative Tool Co. will be labeled and distributed under the Maxis Corp. name beginning October 2003. “Innovative Tool Co. is a perfect fit for Maxis,” says James Jarvis, COO, Maxis. “This acquisition will allow us to expand our line of products to help contractors get the job done faster, easier and smarter.”

In 2002, Maxis Corp. purchased the patent rights to the Pull-It 3000 and Pull-It 1000 cable pullers from Brian Ray, an Arizona electrical contractor, inventor and owner of Ray Practical Technologies, also of Gilbert. The Pull-It 3000 was a finalist for the 2002 CEE News/EC&M Product of the Year award.

In 1990, Pothier, a venture capitalist, won the Ernst and Young Entrepreneur of the year award by taking a struggling consumer electronics firm and turning it into an industry leader. Pothier’s goal is to establish Maxis Corp. as a leader in developing innovative tools for the construction industry.