A blade assembly for cutting a member which surrounds a bolt member includes a first blade comprising a first cutting edge aligned with a first cutting plane which extends in a first direction from the first cutting edge; a second blade comprising a second cutting edge aligned with a second cutting plane which extends in a second direction from the second cutting edge; and a third blade comprising a third cutting edge aligned with a third cutting plane which extends in the second direction from the third cutting edge, wherein the first, second and third blades are associated with one another. The first cutting edge is spaced apart from the second and third cutting edges and the first cutting plane extends between the second and third cutting planes.