05/18/2026
For our 4th installment highlighting the history of Peerless Saw as we celebrate our 95th anniversary, we move on to the 1990’s.
Hackman Corporation, the Finnish company who had owned Peerless since 1985, decided to exit the business in the late 90’s. The original suitor was an industry competitor, but after several failed attempts to reach an agreement, Hackman was approached by 2 Peerless employees – President Tim Gase and VP of Sales Ken Lloyd.
Tim & Ken scrambled to get the financing together, and on September 1st, 1999, the deal was completed!
The company could not have been more fortunate. Ken started working at Peerless in 1976. He was a recent college graduate temporarily living in a friend’s apartment near our factory. He walked in, applied, and started as an entry level machine operator.
Owner, Ted Montague, saw Ken’s potential. He strategically moved Ken through multiple departments to gain a comprehensive knowledge of the business. Then, when a territory sales position opened in North Carolina, Ken took it! After a decade on the road, Ken returned to Ohio to assume the role of VP of Sales.
After graduating from Ohio University in 1983, Tim joined Cooper Industries in Dayton Ohio where he was quickly promoted to business unit manager. After delivering strong results for Cooper, Tim was approached by Hackman at a woodworking show. In 1995, at the young age of 33, Tim was hired as the president of the company.
Tim’s first action as president was to throw the reserved parking sign for the president in the dumpster. He was determined to create a new culture at Peerless. He worked to get to know every employee on a personal level and create a culture of accountability.
Tim & Ken elevated Peerless' financial performance and industry reputation to new heights. They also led Peerless through some very challenging times - the Dot-Com Crash in 2000 and the Great Recession in 2008.
Their legacy lives on. The current leadership team all learned under Tim & Ken and continue to run the business based on many of their core principles.
We invite our followers who know Tim & Ken to drop them a line in the comments!
