Engineering business set to achieve £25m turnover in anniversary year
A supplier of cutting tools to engineers throughout the UK and Ireland, Cleckheaton-based Cutwel, is set to achieve a £25m turnover in its 25th anniversary year.
It is marking the milestone with a rebrand, as well as donations to four charities.
Established in 1996, 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.
He said: “The business has come a long way in its 25 years, from a small family run firm to a multi-million 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’ve grown from a £12m turnover employer in the last five years and are on track to achieve £25m in the next financial year.
“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 pledged an initial £1,000 donation as part of its anniversary activities. This 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.