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Lesjöfors acquires German spring manufacturer S & P Federnwerk KG.

19/03/2013 Lesjöfors has signed an agreement to acquire the German spring manufacturer S & P Federnwerk GmbH & Co. KG. Based in the German town of Herdorf, S & P manufacture springs primarily for the agricultural sector and German automotive industry.
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Lesjöfors is one of the largest spring manufacturers in Europe, and produces the widest range of products on the market. The company achieved sales of 175 million euros in 2012, with 1200 employees working in Sweden, Norway, Finland, Denmark, England, Germany, Slovakia, Latvia, Russia, China and Korea.

S & P Federnwerk currently employs 70 people, and 2012 saw sales of 16.1 million euros. Around sixty percent of S & P’s sales come from Germany, where customers include agricultural, automotive, and engineering industries. Of particular interest to Lesjöfors is S&P's strong position in the agricultural sector, which will complement Lesjöfors' other operations in terms of products.

Kjell-Arne Lindbäck, CEO of Lesjöfors comments on the acquisition: "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."

Christian Piesch and Hagen Wagener have owned and operated S & P Federnwerk since 1999, during which time sales have increased approximately 10 times.

Christian Piesch comments on the sale: “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."

Hagen Wagener remains as the MD of S & P Federnwerk and Christian Piesch will remain and support the sales organisation and its customers.

DP

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