A press for assembling a fastener or the like to a plate or the like comprises a frame and an anvil assembly carried by said frame. A toggle mechanism assembly is carried by the frame and includes two toggle links. A ram is operatively connectable to the toggle links. A first pneumatic cylinder and piston assembly holds the ram in a raised position. A first pneumatic switch terminates the flow of pressurized air to the first pneumatic cylinder, thereby permitting the ram to drop by gravity. A second pneumatic switch is activated after a sufficient drop of said piston to energize a second pneumatic cylinder and piston assembly for extending and retracting said toggle links, and thereby forcefully lower the ram to install the fastener or the like to a plate or the like.