SPARKS, MD – Danaher Corp. and Cooper Industries today said they have reached an agreement to combine their respective tool businesses: Danaher Tool Group and Cooper Tools.

Danaher Tool Group’s Steve Breitzka will lead the new firm as president and CEO. 

Cooper and Danaher will each hold a 50% ownership stake in the new joint venture. No other financial terms were disclosed.

The company, yet to be named, will be headquartered here, and will market tool industry brands such as Allen, Apex, Armstrong Tools, Campbell, Cleco, Crescent, Erem, GearWrench, H.K. Porter, Jacobs Chuck, Jobox, K-D Tools, Lufkin, Nicholson, Plumb, Sata, Weller and Wiss.