Private Equity firm and Praesumo client, NorthEdge Capital has supported the MBO of a Yorkshire-based engineering tooling supplier Cutwel Limited.
Cutwel, based in Cleckheaton, West Yorkshire, are specialists in supplying the engineering industry with precision cutting tools and machine accessories in the UK and Ireland. With plans to scale its sales team with investment in recruitment and training, NorthEdge’s investment in Cutwel will support the company as it aims to double the headcount over the next four years and further drive sales across the SME market.
Congratulations to NorthEdge Partner Andy Ball, Tom Rowley, Director and Nicola McQuaid, Investment Manager on their involvement in the successful deal. Tom Rowley will join the board in a non-executive capacity. Colin Stirling, former partner at Spirit Capital, has been appointed as non-executive chairman.
With a strong track record of supporting high-growth businesses, the investment will be a key milestone for Cutwel. With the help of NorthEdge Captial, Cutwel will be able to further strengthen its team and grow its suppliers’ brands.
NorthEdge was advised by GCA Altium (Stuart Warriner and Andy Battersby), Womble Bond Dickinson (Simon Pilling, James Cook and Catherine Willis), PwC (Joel Smith and Nicola Widdson) and CIL (Jon Whiteman and James Fothergill). Management was advised by Sentio (Dave Irwin) and 3volution. Corporate finance advice was provided to the vendors by PwC (Paul Mankin and Iffy Hussein). DLA Piper (Stephen Atkinson and Mark Cliffe) provided legal advice. Wheawill and Sudworth (David Butterworth and Darren Eastham) provided accounting advice.
Congratulations to all involved.