Yorkshire Engineering Supplies Business Set To Achieve £25m Turnover In 25th Anniversary Year
(L-R) Cutwel Finance Director Alex Moore, CEO Adam Gillard and COO Graham Short
Cutwel, a supplier of cutting tools to engineers throughout the UK and Ireland, is set to achieve a £25m turnover in its 25th anniversary year. It is marking the milestone with a forward-looking rebrand and donations to four local charities.
Established in 1996, Cleckheaton-based Cutwel is now one of the largest independent engineering tooling suppliers in the UK, with a current turnover of £20m, supplying cutting tools for over 11,000 precision engineering companies nationwide. The business employs 80 staff locally and eight regionally based engineers.
Adam Gillard, CEO, has worked at Cutwel for almost 20 years and led a management buyout in 2018, supported by private equity firm NorthEdge Capital. Adam says: “The business has come a long way in its 25 years, from a small family run firm to a multimillion-pound turnover leader in our field. Our rebrand firmly marks the anniversary and makes a proud statement that better reflects the forward-looking business we are now. We are also delighted to be able to support charities which do tremendous work in our local community.
“We’ve grown from a £12m turnover employer in the last five years and we are on track to achieve £25m in the next financial year, with a continued focus on giving customers peace of mind that they will receive the right tool for the job. We have long understood the importance of investing in and providing ongoing training and support for our team, many of whom have been with us since they left school.
“Our business model of having a short supply chain, quality products, highly trained staff and an experienced technical team has proven to be successful and allows us to sell products at more competitive prices, be agile and give better value to customers.”
The company has a strong track record of raising money for charities which support its local community and has pledged an initial £1000 donation as part of its anniversary activities. The donation will be equally shared between four charities chosen by employees, including mental health group Andy’s Man Club, Kirkwood Hospice, Martin House Hospice and Yorkshire Dog Rescue.