UK regional private equity firm NorthEdge has completed the sale of Cutwel, a cutting tool distributor to the SME precision engineering sector in the UK and Ireland, to Inflexion Private Equity Partners.
Cutwel, based in Cleckheaton, West Yorkshire, serves over 13,000 customers.
The exit, the ninth divestment from the fund, was led by Andy Ball, Partner, and John Hammond, Director, alongside the Cutwel management team, and provides a strong return for NorthEdge Fund II at over a 3x gross.
Since the initial investment in May 2018, NorthEdge has supported Cutwel to refine and accelerate its disruptive commercial model, alongside building a scalable platform fit for future growth through investment in people, technology and operational infrastructure.
Alongside appointing a Chair and CFO to the board, the business built out the operational leadership team with six hires including a Head of Operations and a Head of Sales and Marketing.
The business was one of NorthEdge’s first portfolio companies to publicly commit to a net zero target.
NorthEdge and Cutwel were advised by Sentio Partners and Womble Bond Dickinson.
