Value 8 and Solo Capital have each taken a 50% stake and bought all of the assets of Buhrs for an undisclosed sum, which went into administration in July when its credit facility was removed.

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 in order to take the business forward.

It is unclear at this stage how the deal will affect the UK arm of Buhrs, but UK controller John Connell said the UK employees had only just heard the news themselves.

He added: "It is good news that the Buhrs name will continue and we have somebody investing in us."

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."