Grace's Guide as per Hopper's answer is a good place to start. I think more info is available if you subscribe, but from what's public the earliest mention of Macrome in 'Engineering' is 1929, and the latest is 1959. Mentions the firm moved to Wolverhampton in 1949, so the road must be named after them.
The 1929 entry is about their patent process for hardening tool steel, but the firm also made hand tools. Later they seem to have specialised in the tool toughening side of the business, offering to toughen any tool offered by customers. The purpose was to make tools last longer, and Macrome look to have got at least 20 years profit out of it.
Specialising in hardening tool steel may have been what did for them. In 1929 a process for improving tool-life would have sold like hot cakes. By 1959 tool-steels were standardised and industry was well into carbide.
What makes a tap and die set 'quality'? As all but the very worst examples cut accurate threads, 'quality' must refer to how long the tools stay serviceable. A cheap set might not be sharp to start with and is likely to blunt quickly. Also likely to be brittle rather than tough. A 'quality' set would fix theses issues in order to last longer doing exactly the same job. Reliability matters most in a busy workshop; taps and dies don't need to be wonderful in mine! I'm still using a cheap carbon steel BA set bought circa 1970. Maybe does 3 or 4 threads a year, sometimes none.
Work and neglect destroy quality. Not much difference between cheap and quality tools once they're knackered. Only the condition of Dell's set matters and it could be anything from as-new to worn out. How well are threads cut? Brass is a good test of sharpness; taps and dies that struggle to cut clean threads in brass, still work well on mild-steel. Good threads in brass are excellent news, if the set can't cope with mild-steel, it's done for.
Dave