Buyer sought for Chafer and Horstine sprayer businesses

The hunt is on for a buyer for sprayer manufacturer Chafer Machinery and its sister brand Horstine, following the appointment of administrators for the struggling business.

Sheffield-based Leonard Curtis was initially invited to assess the financial situation, and then became official administrators on 16 October.

See also: Sprayer manufacturer Chafer in financial difficulties

The company has now appointed Wakefield-based BPI Asset Advisory to manage the sale of the two businesses – in part or in full.

“Founded in 1901, Chafer is recognised for its high-performance self-propelled and trailed crop sprayers, designed and built at its North Lincolnshire manufacturing site,” said a sale statement.

“Its sister company Horstine has been equally respected for precision applicators, delivering innovative fertiliser and granular chemical application systems used worldwide.”

The private treaty sale will include the Chafer and Horstine brand names, intellectual property, proprietary software, design data, and manufacturing and assembly equipment, alongside extensive stock valued at approximately £1.4m.

Luke Hartshorn, director at BPI Asset Advisory, said: “While the agricultural industry has faced numerous challenges over recent years, the Chafer and Horstine brands have built exceptional reputations within the farming community over many decades.

“Both brands carry strong heritage and recognition, and we expect considerable interest from buyers looking to continue that legacy or integrate the product range into existing operations.”

BPI Asset Advisory is inviting expressions of interest in all or part of the business.

Further details and the full private treaty sale listing can be viewed online.