[2] Arthur Ulysses Pequegnat was born in La Chaux-de-Fonds, Neuchâtel, Switzerland,[3] to a primarily French-speaking family.

[5] The Pequegnat family immigrated from Switzerland in 1874, and initially started a business of importing watches for the local market in Berlin (now Kitchener, Ontario).

Soon, Arthur Pequegnat and his seven brothers owned a chain of jewellery stores throughout Southwestern Ontario,[2] operating as a kind of family conglomerate.

[4] In the late 19th century, the bicycle market began to change dramatically, spurred by technical innovations and the rise of mass production.

[4] Business was brisk, and included customers such as the Berlin Police Department, which issued Racycles to its entire staff.

[4] Around 1900–03, however, Pequegnat began to foresee the decline of the bicycle industry, and started to retool his factory on Frederick Street to experiment with clockmaking.

[citation needed] The company distinguished itself as a competitor for some of the better American pendulum clocks, such as those made by Seth Thomas.

For their wooden cases, they favoured the heart wood of quarter-sawn white oak that showed off beautiful ray flecks.

[9] In 1965, a new Kitchener Water Commission head office was constructed on the site of the former Pequegnat plant on Frederick Street.