Handy & Harman

The story begins in 1867, not in a garage, but in New York City, where a harness maker named Peter Hayden specialized in decorative silver fittings. Hayden pivoted from crafting with silver to trading it, founding a precious metals bullion and coin dealership called Peter Hayden & Co. The business was later sold to Parker Handy, a bank vice-president, who brought on his clerk, John F. Harman, as a partner in 1886, officially forming Handy & Harman. By the late 19th century, the firm was the largest silver trading entity in the United States and became the official source for the daily silver price quotation in 1892. Over the next century, the company transformed from a trading house into an industrial manufacturer. It expanded into fabricating precious metals for industrial uses like brazing alloys, electrical contacts, and components for the automotive and aerospace industries. This evolution was driven by acquisitions and a focus on specialized, engineered materials. The business grew to encompass a wide array of products, from seamless steel tubing to motion control products, serving markets from construction and electronics to healthcare. A significant chapter closed in 2017 when Handy & Harman, then a publicly traded diversified industrial company, was acquired by Steel Partners Holdings. Steel Partners, which already owned a majority stake, purchased the remaining shares, taking the company private to streamline operations and reduce the costs associated with being a separate public entity.