A tool exchange assembly and related method configured to swap change tool assemblies with a nutrunner constructed in accordance to one example of the present disclosure includes a nest. The nest has a lower jaw portion and an upper jaw portion. The lower jaw portion has first and second lower fingers that cooperate to define a lower slot. The upper jaw portion has first and second upper fingers that cooperate to define an upper slot. The nest is configured to receive a change tool assembly. Relative movement of the change tool assembly and the nest urges a sleeve on the change tool assembly to move between a locked position and an unlocked position.