Yale Forklifts was started as a lock manufacturer by Linus Yale Jr. in 1844. Yale produced its first forklift truck in the 1920s under the name Yale & Towne Manufacturing. The company was purchased in 1985 by the North American Coal Corporation (NACCO), which later became NACCO Industries, Inc. Yale Materials Handling Corporation was combined with Hyster Company, also purchased by NACCO, in 1989 to form NACCO Materials Handling Group. NACCO Materials Handling Group was then spun off as a separate public company from NACCO in 2012, under the name Hyster-Yale Materials Handling, Inc.

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