Leonard F. Smith was a McMinnville lumber dealer who made and sold five planers in 1921. He started using the Powermatic name in 1928, according to the trademark filing. In 1966, Powermatic—now run by Smith's sons—was sold to conglomerate Houdaille Industries; machines were labeled "Powermatic Houdaille." In April 1986, Houdaille sold Powermatic to Stanwich Industries, which changed name to Devlieg-Bullard in 1989 or '90. Devlieg-Bullard re-sold Powermatic in 1999 to machinery importer Jet Equipment & Tools. In 2002 Jet became part of the WMH Tool Group, which now includes Powermatic, Jet, Performax and Wilton.