Pratt-Read
| Company type | Division |
|---|---|
| Industry | Manufacturing |
| Founded | 1798 |
| Headquarters | Sycamore, Illinois , United States |
| Products | Screwdrivers, screwdriver bits |
| Parent | Ideal Industries |
Pratt-Read is a U.S.-based manufacturing firm located in Sycamore, Illinois, specializing in the production of screwdrivers as a division of Ideal Industries. Established in 1798, it ranks among the longest-standing enterprises in the United States.
History
The company was originally established in 1798 in Ivoryton, Connecticut under the name Pratt, Read & Company. Its early products included beads, buttons, and billiard balls crafted from imported elephant tusks. Beginning in 1839, the firm focused on producing ivory piano keys and subsequently expanded to manufacturing piano action components.
Although Pratt-Read produced its initial screwdrivers in 1834, it halted this line by 1840 and sold parts to smaller manufacturers. During World War II, the company paused piano part production to build 956 military gliders of the Waco CG-4 model. After the war, piano component manufacturing resumed but gradually shifted emphasis toward screwdrivers. By the late 1980s, Pratt-Read discontinued piano parts production, closed its facility in Central, South Carolina, and dedicated its operations exclusively to screwdriver manufacturing.
The company produces handles and blades domestically and, following its 2005 acquisition of Wisconsin-based American Industrial Manufacturers, also manufactures bits within the United States. Products are marketed under the Pratt-Read brand and supplied to other manufacturers including Stanley, Snap-on, Danaher, and Klein.
In 2009, Pratt-Read sought protection under Chapter 11 bankruptcy proceedings. Subsequently, on March 22, 2010, Ideal Industries purchased Pratt-Read’s brand and equipment through bankruptcy court and continued production at Ideal’s facilities after closing the Shelton, Connecticut plant.