Falcon began operations in 1981 when the company was formed in Hector, Minnesota. The company was founded by two partners with experience in the metal-forming industry. In 1982, J. Donald FitzGerald, the company’s current CEO, obtained the 50% equity interest of one of the original partners. He later purchased the remaining 50% in 1998. Mr. FitzGerald was previously a manufacturer’s representative in the industry for many years. As a manufacturer’s representative, Mr. FitzGerald was frustrated that customers were not adequately served by the companies he represented. This was one of the driving forces behind his decision to become part owner in Falcon. Attention to customer needs is one of Falcon’s greatest strengths and that strength has contributed greatly to the company’s success.
Initially, all of Falcon’s operations were conducted from four modest buildings located at the Minnesota site. The company grew at a steady pace the first years of its existence. In 1984 Falcon opened a facility in Bedford, Ohio due to logistic concerns of shipping products east. The Ohio operation grew steadily for two and a half years before moving to Medina, Ohio in 1987. The move was prompted by the Cleveland area’s tight labor market and better availability of employees with advanced mechanical aptitude found in this more rural area. In 1997, Falcon consolidated its Minnesota operations into a new building in Cosmos located an hour and a half west of Minneapolis. The Medina location, which serves as the company’s headquarters, moved into new facilities in December 2008.
In 2000, Falcon implemented their ESOP, Employee Stock Ownership Plan, by acquiring a 30% interest in the company, and in 2005 the ESOP purchased an additional 10%. As a result the employees of Falcon Industries own a 40% interest in the company.