Floyd Automatic welcomes new owners as Richard Floyd retires

UK cutting tool distributor Helix Tool Co Ltd has acquired Floyd Automatic Tooling following the decision of Richard and Chantal Floyd to retire from the business after 35 years.

With branches in Leeds and Durham, Helix Tool has an ambitious growth strategy that includes consolidating the industrial tooling distribution market. The acquisition of Baldock, Hertfordshire-based Floyd Automatic will enable the company to penetrate a new customer segment. In an undisclosed transaction, the business also aquired Nsert-UK Ltd based in Washington, Tyne and Wear. The acquisitions are highly complementary and in line with Helix’s organic and M&A-led strategy.

Matt Cattell, CEO of Helix Tools’ holding company, says: “The announcement signifies a strong start to 2025 for Helix, and we’re confident that customers will see significant benefits in terms of product offering and technical expertise.”

Retiring Floyd Automatic owner and Managing Director Richard Floyd, adds: “I started Floyd Automatic Tooling in 1990 with the support of my father, Bill. Over the past 35 years we’ve built a fantastic business and an incredibly talented team that I’m extremely proud of. We aimed to introduce Swiss-type tooling innovations for users of sliding head-turning centres and cam-autos. Over the decades, our offering has expanded exponentially in line with both the technology and the requirements of the marketplace. We’ve built partnerships with suppliers and clients that have spanned decades; many business relationships are now close friendships. The staff and management team at Floyd Automatic will undoubtedly take the Floyd brand, relationships, service and product portfolio forward with new vigour – and I wish our new owners every success in the future.”

Sharing his sentiment, Helix Tool Managing Director Paul Lynch says: “As part of our strategy to consolidate the industrial tooling supply network in the UK, Floyd Automatic is a fantastic acquisition for our business. Floyd Automatic has always had a reputation for delivering high-end niche solutions with expertise that reaches far beyond that of its rivals. This acquisition will allow Helix customers to have streamlined access to Floyd Automatic’s products, solutions and technical expertise. We want to extend our gratitude to Richard Floyd for building a robust, unique and successful business, and we’re relishing the opportunity to take the company forward with the talented staff that will now be part of the Helix family.”