Diamond Tool and Horseshoe Company was founded by Otto Swanstrom in 1908 and was known as the Diamond Calk Horseshoe Company. Otto, who was working as a blacksmith in the lumber camps, realized that the time-consuming tasks of shoe removal and sharpening of the calk could be improved. At that point Otto invented the removable calk. The company began with two employees manufacturing the patented calk for horseshoes. In 1912 Otto build his first plant and began to manufacture horseshoes. Over the years the Diamond product line expanded to include a full line of farrier tools as well as many other hand tools and hand tool products.