Etymology
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retool (v.)

also re-tool, 1866, "to shape again with a tool," from re- "back, again" + tool (v.). Meaning "to furnish a factory with new equipment" is recorded from 1940. Related: Retooled; retooling.

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Definitions of retool

retool (v.)
revise or reorganize, especially for the purpose of updating and improving;
We must retool the town's economy
Synonyms: revise
retool (v.)
provide (a workshop or factory) with new tools;
From wordnet.princeton.edu