Fundamentally, yes, but with reservations. Portable tools are generally OK, but some tools with electronic speed controllers may run slower/hotter. Static machinery with induction motors will definitely run slower and hotter and the motors will have a reduced life expectancy. This is because a 2-pole induction motor runs at 3000 rpm (2850 rpm in reality) on British 50Hz power as opposed to 3650 rpm (3460 rpm actual) on US 60Hz power, lower speed = less cooling effect from the fan and more heat reduces the lifespan of the insulation on the motor windings. Furthermore cutterblocks/blades may end up running at sub-optimal speeds and either not cut as effectively or stall earlier. Lastly the power of the tool will be reduced, i.e. a 3HP motor (rated on 60Hz) would actually be rated at 2-1/2HP (16% less) on British 50Hz power supplies.
Now I've said that I do run some Porter-Cable power tools via a site transformer, although I'd probably spend the money to buy an inverter to output 120 volts @ 60Hz if I were to run a US-sourced static machine with an induction motor
Scrit