Operating from its purpose-built, 24,000sq ft distribution facility in Cleckheaton, Cutwel specialises in supplying precision cutting tools and machine accessories to the engineering industry throughout the UK and Ireland, delivering year-on-year revenue growth from £6m in FY12 to over £16m in the year to April 2018.
NorthEdge’s investment in Cutwel, backing the existing management team led by Adam Gillard, Graham Short and Shaunie Mangham, will support the company as it continues to scale its sales team with investment in recruitment and training.
Adam Gillard, general manager at Cutwel, said: “NorthEdge’s investment represents a key milestone for Cutwel. The team truly understands our values and has demonstrated a strong track record of supporting high-growth businesses.
“We are proud of what Cutwel has achieved over the past 20 years, combining great products with excellent customer service. This investment is the next step on that journey. We look forward to working with NorthEdge to further strengthen our team, grow our suppliers’ brands and continue the strong momentum our talented team has generated to date.”
Tom Rowley of NorthEdge added: “The management team at Cutwel, led by Adam Gillard, Graham Short, and Shaunie Mangham and under the guidance of Paul and Mary Hawksworth, has built a business with its people at its core, and in doing so has delivered strong year-on-year growth and a leading reputation in the sector for providing expert information and advice to its clients.”
Commenting on the deal Dave Irwin, partner at Sentio, said “It was a pleasure to advise Adam, Graham and Shaunie. They are an extremely energetic team with a genuine passion for the business. We are confident they will deliver huge success going forward, with the full support of NorthEdge and appropriate guidance from Colin Stirling who joins the team as non-executive Chairman”