Cutwel management team complete MBO

Cutwel operates from a purpose-built 24,000f^t2 distribution facility and specialises in the supply of precision cutting tools, machine tool accessories and precision measuring tools to the UK and Irish engineering industry.

Since founding the company in 1996, husband and wife Paul and Mary Hawksworth have invested in Cutwel's sales and technical teams, increasing headcount to more than 50 people. It has achieved year-on-year revenue growth from £6 million in 2012 to more than £16 million in the year to April 2018. Cutwel is the UK agent for major international manufacturers including YG-1, Korloy, Gerardi and Insize.

The management team at Cutwel, led by Adam Gillard, Graham Short, and Shaunie Mangham and under the guidance of former owners 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 reputation in the sector for providing expert information and advice to its clients.

The MBO is backed by Leeds-based private equity company NorthEdge Capital. The funding will support Cutwel as it continues to scale its sales team with investment in recruitment, training and product development. The company aims to double the headcount over the next four years to over 100 employees with the ultimate aim of doubling turnover within the next five years.

Adam Gillard, general manager at Cutwel said: "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 further strengthening our team, growing our suppliers' brands and continuing the strong momentum our talented team has generated to date."

Cutwel www.cutwel.co.uk