Southampton: Fanshawe Lofts secures mower sale

Rosemary Penn-Newman and David Moxon from the corporate finance team of Fanshawe Lofts have secured the sale of the Allen Hover Mower business to one of the most successful lawnmower manufacturing companies in the UK, Hayter.

Hertfordshire-based Hayter has acquired the business from APEL Holdings, which holds all the manufacturing and distribution rights to Allen Hover Mowers. In recent years the business sold more than 4,000 petrol units a year in the commercial and heavy-duty domestic markets.

The business has been acquired by Hayter for an undisclosed sum to complement its position as a pioneer of the rotary lawnmower specialising in products for the serious gardener and the professional user.

As part of the deal Hayter has also acquired the rights of Allen’s new generation XR44 mower, which was launched recently and is now progressing towards market.

The Allen Hover mower business was part of APEL Holdings Ltd, a family run business based in Oxfordshire for more than 140 years. The sale is part of the exit strategy for the Allen family shareholders.

Rosemary Penn-Newman, head of corporate finance at Fanshawe Lofts, said: “This sale works both for Hayter and APEL. Hayter obtains a product and brand that is the market leader in its niche and this strengthens their product line. Meanwhile APEL is a step closer to fulfilling their divestment strategy. It has proved to be an exciting and worthwhile transaction to facilitate.”

Peter Seary, of Shoosmiths, advised Hayter on the acquisition whilst Kelvin Balmont at Clarke Willmott Solicitors advised APEL on the sale.