Horwood Bagshaw on market
Historic South Australia-based agricultural machinery company Horwood Bagshaw is for up for sale.
The company, founded in 1838, is privately owned by Adelaide-based Sweeney Investments and, according to public reports, has an annual revenue of about $11 million.
Well known for its Australian-made tillage equipment, Horwood Bagshaw claims to produce tough, strong and durable machines that can handle Australian farming conditions.
In recent public statements, the company had said 87 per cent of its annual revenue came from the tillage equipment.
In WA, 18 machinery dealerships, from Gnowangerup to Geraldton, sell Horwood Bagshaw's products.
Mukinbudin Ag Implements manager Errol McGrath said sales of tillage equipment were cyclical, but over the past decade Horwood Bagshaw products had been a strong seller in the eastern Wheatbelt.
"In the last couple of years I haven't sold as much of the Horwood product, but it's more because of the cycle of tillage," he said.
"Farmers only replace their tillage equipment every six to eight years and we are coming back into that replacement cycle now and we are anticipating strong sales of the product in coming years."
Mr McGrath said the outstanding feature of the Horwood Bagshaw company was the after-sales service for each machine.
"Since the new management took over the business several years ago, they made sure that the back-up service was second to none," he said.
"That has been what has really put the company back into favour as far as farmers are concerned."
Mr McGrath said the Horwood Bagshaw machines had a reputation for being strong and durable and the Precision Seeding Tillage System was a recognisable machine across the Wheatbelt.
The sale was announced by global accounting firm Ernst & Young and the business is expected to be sold within six months.
