A CLECKHEATON-based tooling supplier has received the backing of a northern investment firm.

NorthEdge Capital has supported the MBO of Cutwel Limited, which has been in operation since 1996.

The specialist precision cutting tool and machine accessory supplier provides products to the British and Irish engineering industry.

It employs more than 50 people and, growing its revenue from £6 million in 2012 to more than £16 million in the last financial year.

The investment from NorthEdge will support Cutwel with its investment in recruitment and training, and its aims to double its workforce in the next four years and increase sales to the SME market.

Adam Gillard, general manager at Cutwel, said: "NorthEdge’s investment represents a key milestone for Cutwel.

"The team truly understands our values and has demonstrated a strong track record of supporting high-growth businesses.

“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.”

Nicola McQuaid, investment manager at NorthEdge Capital, added: “We are proud to be backing a business which has consistently demonstrated its commitment to customer service and to supporting young workers and apprentices with the best possible training.

“We look forward to working with the management team to continue the strong momentum Cutwel has built while continuing to provide the same high level of service to all suppliers and customers.”