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In 1997 the Kennametal Company acquired the Easterbrook Allcard 'Presto' engineering business based in Sheffield's Penistone Road the new owners brought with them a novel culture of 'focused factories', global control and a huge amount of manufacturing expertise and resources. What Kennametal acquired in exchange was a part of Sheffield's proud industrial heritage and a firm whose roots go back to the early years of Queen Victoria's reign.

In 1989 the Presto brand was in private ownership under the Easterbrook Allcard banner in which the Allcard family still held the majority of shares. The McGee family, minority shareholders, actually ran the business, which by then had been an industry leader for many years. 

Happily, in October 1997, exactly 100 years from its incorporation, Kennametal Hertel Ltd acquired Presto Engineers Cutting Tools Ltd, new ownerswho would bring new life and prosperity to this much-respected Sheffield firm.

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