Lloyds Corporate Brokers has completed the sale of a Queensland-based Designer, Manufacturer, Service and installer of Drying equipment throughout Australia.
Agridry, established in 1976, manufactures drying and aeration equipment with a focus on product development for markets including grain, almonds, pulses, nuts, wood chip and other commodity products. Its brands include Predator, Goliath, Tundra, Kinetic and Tanami.
Agridry Dryers Pty Ltd (Agridry) manufacturers Grain Dryers, Silo Aeration Controls and Control Equipment for farmers and processors in Australia. Based in Toowoomba the company started in 1976. The founders of Agridry decided there was a need for an Australian solution to grain drying – the Field Bin 2000 which is now known as the Predator was created.
Agridry has a comprehensive range of dryers and components suited to a broad range of drying requirements. There is no other manufacturer of dryers in Australia and competition comes from imported dryers. Agridry represents some of the overseas manufactures which compliments its own Australian manufactured product lines.
However, Agridry has a focus on developing and improving its customer offer to maintain a competitive edge in the marketplace.
The sale of Agridry was covered by many major Ag channels, Trade newspapers and Magazines, and online media outlets throughout Australia.
https://www.graincentral.com/news/agribusiness/briefs-changes-for-agrichain-agridry-gomicro/
https://www.bulkhandlingreview.com.au/morrison-industries-to-acquire-agridry/
https://www.farmingahead.com.au/agronomy/news/1464593/agridry-changes-hands
https://www.theland.com.au/story/8518932/australian-agricultural-manufacturing-business-agridry-acquired-by-morrison-industries/
Manufactured lines are:
• Grain Dryers
• Grain Aeration Fans
• Mobile Bunker Heaters
• Grain Aeration Controllers
• Materials Handling Equipment
• Grain Monitoring Technology
Customers consistently choose Agridry over competitors for several reasons:
· Trust and Relationship: Agridry have built strong relationships with customers based on trust, reliability and exceptional service.
· Ease of Use: Agridry place great emphasis on making the client experiences as easy and seamless as possible,
· Quality and Design: Agridry products are of premium quality.
· After Sales Service and Support: Agridry after-sales service is geared towards ensuring complete customer satisfaction,
· Comprehensive Product Range: Agridry offer mobile and fixed solutions for a variety of applications.
Morrison Industries, based in Forbes, NSW, presently manufactures silos under the HE Silos brand. The two activities of silos and dryers are expected to complement each other and give the company a broader customer offer.
The present owner of Agridry, Adam Montgomery, said that while he had some reluctance in selling the business, he was delighted that a family business such as Morrison Industries would guide Agridry through the next phase of its business activity. Morrison Industries managing director and owner, Steven Morrison, said that Morrison Industries had wanted to expand their activities into the grain drying market for some time and the acquisition of Agridry fulfils this objective.
Morrison said that the Toowoomba manufacturing site would remain as the key location for the dryer operation and the business will continue to be run by the present management and supported by existing staff. Given improved weather conditions in most grain growing regions across Australia, Agridry products are continuing to receive significant buyer interest for the year ahead.
Lloyds initiated the sales process with a Business Appraisal and Preparation of an Information Memorandum and Marketing teaser. This highly sought-after business received over 40 qualified enquiries and received both National and International enquiries. Lloyds facilitated introductory meetings and site inspections with prospective buyers and worked with the vendor and the advisors through all aspects of the sale and due diligence process.
The Sale was conducted by Lloyds' Corporate Partner Wayne Fischer, Agricultural Specialist Advisor, and Lloyds Managing Director Garry Stephensen who worked closely with the vendor to achieve a successful result for both vendor and buyer.
If you own a business in the Agricultural sector, talk with Lloyds Brokers on 1300 366 943 for advice on how to buy or sell your business. We have teams of brokers in Melbourne, Brisbane Brokers, Adelaide Brokers and Sydney Brokers.
