Management buyout at Cutwel tool suppliers

growth from £6m in 2012 to more than £16m in the year to April, 2018.

NorthEdge’s investment in Cutwel will support the company as it continues to increase its sales team with investment in recruitment and training. The company aims to double employee numbers over the next four years and further drive sales across the SME market.

The deal was led by NorthEdge partner Andy Ball with support from Tom Rowley, director, and Nicola McQuaid, investment manager. Tom Rowley will join the board in a nonexecutive capacity. Colin Stirling, former partner at Spirit Capital, has been appointed as non-executive chairman.

Mr 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 working with NorthEdge to further strengthen our team, grow our suppliers’ brands and continue the strong momentum our talented team has generated to date.”

Mr Rowley said: “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.”