Company History

    On January 2, 1958 the stockholders met to adopt the original By-Laws following the Articles of Association to establish PowerGrip, Inc.  Bill Manchester was appointed President and Treasurer; Charles Siegel, Vice President and Chief Engineer; and Cecil Bedford, Vice President and Sales Manager.

    These three gentlemen had been co-workers during their employment at Union Manufacturing Company in New Britain, Connecticut where they each held key positions in purchasing, engineering and sales.  Charles Siegel developed on the drawing board the original air operated collet actuator following many discussions with Bill Manchester about the need for such a piece of equipment in manufacturing and production.  

    The company started with the three men working in Bill Manchester's garage and breezeway, but shortly outgrew these facilities.  

    In December 1961, the tragic death of Charles Siegel in the Hartford Hospital fire created great concern for Bill and Cecil.  Once again faced with serious problems, they looked ahead, and with the help of new employees, they worked continually toward the development of product lines and sales.  In March 1963, the name "PowerGrip, Inc." was changed to "PowerHold Products, Inc."

    In 1968, Cecil Bedford reached that stage in life when he retired from the active management of the company.  He continued as a Director until his death, leaving Bill Manchester as the sole surviving founder.  

    In October 1979, with business at an all-time high and everybody extremely encouraged about the future, the very sudden death of Bill Manchester left the company faced with major concerns.

    The company had within the organization an experienced and talented person to step into the top position as Chief Executive Officer.  The Board of Directors appointed Richard C. Spooner to act in that capacity.  In December 1979, Richard C. Spooner was elected President of the Corporation.

    In 1981 the company moved to a new facility that could provide office and shop areas for the current and foreseeable future.  This move took the company from Rockfall to Middlefield, CT.

    Richard C. Spooner has led the company through some very trying years, where the machine tool industry reached new lows in sales in the U.S. while facing severe competition from foreign manufacturers.  The decision to concentrate on special workholding versus standard proved to be correct.  

    Powerhold is top rated in the industry for high quality engineering and manufacturing boasting more than a dozen patents since its founding.  Powerhold is also among the founders of the workholding product group of A.M.T.  Today the company occupies a 15,000 sq. ft. modern manufacturing facility that utilizes the latest in CNC machining, AutoCAD and 3D drawing.