Value 8 and Solo Capital have each taken a 50% stake and bought all of the assets of Buhrs for an undisclosed sum, which entered administration in July following the removal of its credit facility.

Peter Paul De Vries, chief executive and founder of Value 8, said the company was working with the previous chief executive Joost van der Klooster to help the company through the transition period.

De Vries said: “We are extremely happy to have completed this deal. We are currently forming a team that will take the company forward and we are trying to rebuild the company.

“From what we have seen, they have a good product – it is comparable to the BMW of its class. Customers seem to be loyal and the employees here have a Buhrs heart. Anyone wanting to start a business would want these elements in place.”

He added: “In a recession, capital goods are always the first investments postponed and the recession made things very difficult for Buhrs. But in two or three years time, customers are still going to need to renew their machines.”

Buhrs is handled in the local market by Dataform Australia.

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