Consistency matters in carbide cutting tools, such as the drills, routers, reamers and endmills used in just about every industry, from aerospace to woodworking. If a tool’s replacement performs even slightly off-spec, customers will notice right away in their production inefficiency, product quality and cost per cut.
That expectation has shaped how Mastercut Tool Corp. operates and how the company grew from a modest start in a garage more than 40 years ago. Today, it sells a broad portfolio of precision cutting tools through distributors in more than 60 countries. Its 120 employees work out of approximately 70,000 square feet of company-owned manufacturing space in Safety Harbor, Florida.
Mastercut President and CEO Michael Shaluly did not set out to build a worldwide enterprise. He started the business from his home, doing subcontract work for larger manufacturers and grinding cutting tools by hand, one at a time. “It was just me and the work,” he recalled. “I didn’t even have a company name at first.”
Michael incorporated Mastercut Tool Corp. in 1985. Growth followed gradually. With help from his wife, Mia Marie, he moved the business out of their garage and into an industrial space as demand increased. Over time, his subcontracting gave way to branded products. Tool designs grew more complex, requiring new equipment and tighter process controls.
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From hand craftsmanship to automated precision
In 1989, Michael purchased Mastercut’s first CNC machine, marking a shift from manual production toward a more automated model. Additional automation followed through the 1990s.
These investments led Mastercut to develop a proprietary manufacturing system that manages each step of the toolmaking process. It helps the team produce tools efficiently at scale while ensuring each one is made to the same exact standards every time.
“Our customers expect a tool they buy today to perform the same as the one they bought yesterday,” Michael said. “That’s our promise to them and the source of our success and growth.”
Financing the machines that make growth possible
Mastercut's precision manufacturing requires significant capital resources — some equipment carry six-figure price tags — and purchases are frequently made ahead of revenue from new contracts.
“We can’t grow without machines,” Michael said. “And we can’t buy machines without the right financing. That’s where TD comes in.”
Mastercut’s banking relationship with TD spans more than 30 years. Over that time, the company has financed equipment purchases and adopted TD cash-management tools designed to support liquidity as operations scaled.
“TD has also helped us weather our industry’s ups and downs, always being there for us,” Michael said.
For Drew Holst, Relationship Manager, TD Bank U.S., the focus has been ensuring Mastercut's access to capital keeps pace with operational needs.
“Michael needs new equipment on a regular basis,” he said. “If you’re in manufacturing, you can’t operate, much less grow, without it. One of the things we’ve been working on is a lease credit line that gives them flexibility, so when needs arise, they can move quickly.”
That flexibility has helped Mastercut make decisions based on production requirements rather than timing constraints.
“Having a partner like TD and Drew who understand both our business and equipment needs makes a real difference,” Michael said. “They take the time to learn how we operate and proactively bring ideas forward when it makes sense. And I know I can count on them whenever those needs arise.”
A family business with a long view
Despite its global reach, Mastercut remains family-run. Michael still works alongside his wife, and their daughter has now joined the business. They’ve always focused on making their firm a great place to work.
That ethos has succeeded in retaining experienced workers, especially skilled machinists, many having spent decades with the company. Mastercut is also exploring the creation of an onsite employee center that would provide childcare support for working parents. “If people can build their lives here, our business is stronger as a result,” Michael said.
A similar mindset also shapes Mastercut’s community involvement. The company actively supports local manufacturing organizations, collaborates with universities on safety and training programs and organizes an annual 5K run to provide scholarships for students pursuing manufacturing-related education.
Over time, this event has generated substantial funding, totaling hundreds of thousands of dollars, to benefit students entering the industry. Now four decades later, Michael still sees Mastercut as a company in progress. Growth remains deliberate. Challenges remain part of the work. The discipline that shaped the business early on continues to guide it today.
“We’ve built something solid,” he said. “And there’s still more opportunities for us in the years ahead.”
Michael’s tips for small business success
- Establish steady revenue early: “Before you take on big expenses, make sure you have reliable income coming in. That stability gives you options.”
- Match investments to real needs: “Big purchases are intimidating, but sometimes they’re unavoidable. The key is understanding exactly what you’re buying and why.”
- Stay the course through uncertainty: “There will be stretches where progress isn’t obvious. You have to keep moving forward anyway.”
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