Patent attributes
Disclosed is a magnetic tool holder adapted to be used in conjunction with a pegboard. The tool holder comprises two pairs of legs that are adapted to be received within the peg holes such that, each pair is simultaneously slidably movable between a biased engagement position and a disengagement position wherein, the distance between the pair in the engagement position is greater than that of the pair in the disengagement position. Notably, a friction fit is achieved between pegboard and the main legs in the engagement position. The tool holder further comprises a spring-loaded means for causing the at least one pair of main legs to move from the engagement position to the disengagement position and a magnet disposed on top thereof, the magnet about which, tools are magnetically attached thereto.
