IVY Classic's Magnetic Quick Release Bit Holder secures the insert bit in place with a ball and spring retention and an extra strength magnet resulting in greater retention of your fastener. It is designed to withstand the high torque of impact drivers. Its retractable knurled sleeve releases insert the bit. IVY Classic Industries manufactures an extensive line of bit holders in a variety of sizes and lengths. IVY Classic Industries is dedicated to producing a comprehensive, quality line of power tool accessories and hand tools.