Lesjofors has bought German spring manufacturer S&P Federnwerk for an undisclosed sum.
Lesjofors, which achieved sales of 175 million Euros in 2012, signed the agreement to purchase to Herdorf based spring manufacturer, which achieved sales of 16.1 million Euros last year.
Lesjofors says of particular interest is S&P’s strong position in the agricultural sector, which is says will complement its other operations in terms of products.
CEO of Lesjofors Kiell-Arne Lindback said: “This acquisition strengthens Lesjöfors position further in Germany and Central Europe. The acquisition adds global niche products that complement Lesjöfors other products. Within their main product segment S & P has a significant share of the world market.”
Joint owners of S&P Christian Piesch added: “The network of expertise in the spring area and the availability of complementary products that we will get access to within the Lesjöfors Group will further strengthen the S & P’s offer to their customers. The sale of the company to the Lesjöfors Group who has springs and pressings as their core competence is a great opportunity for S & P Federnwerk.”