The original company was started in 1923 by Raymond E. DeWalt, inventor of the radial arm saw. It grew quickly and was reorganized and reincorporated in 1947 as DeWalt Inc. American Machine & Foundry Co., Inc. bought the company in 1949, and sold it to Black & Decker in 1960. Black & Decker divested itself of the radial arm saw manufacturing branch in 1989, selling it to two executives. Radial arm saws with the original DeWalt design can still be obtained from the Original Saw Co.

In 1992, Black & Decker began a major effort to rebrand its professional quality and high-end power tools to DeWalt. In 1994, DeWalt took over the German woodworking power tool producer ELU, and used ELU's technology to expand their tool line. As of 2001, they manufacture and sell more than 200 hand power tools and 800 accessories.

DeWalt is now a popular brand of tools for commercial contractors. In 2004, Black and Decker bought rival power tool manufacturer Porter-Cable and combined it with DeWalt in Jackson, Tennessee. In 2011, DeWalt launched a line of contractors' hand tools (including utility knives, pliers, adjustable wrenches, tape measures, saws, and hammers). In 2013, it was expanded to include mechanics' tools, including wrenches, ratchets and sockets.

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Makita Corporation is a Japanese manufacturer of power tools. Founded on March 21, 1915, it is based in Anjō, Japan and operates factories in Brazil, China, Japan, Philippines, Mexico, Romania, the United Kingdom, Germany, Dubai, Thailand and the United States. Annual sales were equivalent to $2.9 billion in 2012.