Relying on Yale patents, Yale’s sterling name and sheer ingenuity, Yale Jr. and his colleague Henry Towne established the Yale & Towne company in 1868, at the time employing 35 people.
The company grew and broadened its scope with manually operated chain hoists, battery powered platform trucks and in 1879 a line of padlocks was introduced. Yale & Towne purchased Norton door closer company and H. and T. Vaughan Ltd.
In the early 20th century, the company expanded worldwide and employed more than 12,000 people. Throughout the 20th century, purchases, acquisitions and joint ventures with brands as Guli, Chubb Locks, Parkes and C E Marshall have made Yale locks well-known worldwide.
In August 2000 Yale was purchased by the ASSA ABLOY Group and in May 2010, ASSA ABLOY also acquired Paddock, which has very strong synergies with Yale, as the largest manufacturer, and market leader, in the supply of multipoint locks.