James Watt

Watt and Boulton began corresponding, recognizing each other's talents and potential. Boulton, a successful businessman, was interested in Watt's steam engine innovations.

Watt and Boulton formally entered into a partnership, forming the firm of Boulton and Watt. This collaboration combined Watt's inventive genius with Boulton's business acumen and manufacturing expertise.

Boulton and Watt established the Soho Manufactory near Birmingham, a state-of-the-art engine manufacturing facility. This factory became a hub for innovation and skilled engineering, producing engines for customers throughout Britain and beyond.

Boulton and Watt focused on selling the "use" of steam power rather than the engine itself. They charged royalties based on the amount of work the engine performed, measured by an indicator of Watt's invention. The first successful commercial engine was installed in a coal mine.

Boulton managed the business side of the partnership, overseeing production, sales, and finance, while Watt focused on refining the engine design and developing new innovations. Their complementary skills made the partnership highly successful.

Both James Watt and Matthew Boulton retired, passing the management of the company to their sons, James Watt Jr. and Matthew Boulton Jr. The company continued to thrive under their leadership.