The Waverly Music Products Company was founded in the 19th century. Located at 18 Eleventh Street, Long Island City, New York they made metal instrument parts for other manufacturers including tailpieces, tuners and banjo rings and also accessories like lap steel slides. In the 1970s Waverly was acquired by Stewart-MacDonald.

The current Waverly tuners are used by many renowned guitarmakers for their finest instruments. Waverly's patented design combines stainless steel with bronze to create smooth, non-slip tuning. Waverly machines are handmade to fit precisely without drilling on older Martin and Gibson guitars