Lesjöfors has with effect from 1/1 2013 signed an agreement to acquire the German spring manufacturer S & P Federnwerk.
S & P manufactures springs for primarily the agricultural industry and to some extent also for the automotive industry. The company is located in Herdorf, Germany.
Lesjöfors is one of the largest spring manufacturers in Europe and has the widest own manufactured product portfolio on the market. In 2012 the sales was about 175 million Euro and the company has about 1 200 employees.
Lesjöfors has operations in Sweden, Norway, Finland, Denmark, England, Germany, Slovakia, Latvia, Russia, China and Korea.
S & P Federnwerk sales was 2012 16,1 million Euro and the company has about 70 employees. The company's customers are in the agricultural, automotive and engineering industries. 60 percent of its sales are in Germany. Particularly interesting for Lesjöfors is S & P's strong focus on the agricultural sector, which in terms of products complements Lesjöfors other activities.
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 has owned and operated the company, S & P Federnwerk since 1999 and during that time the sales has 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 organization and its customers.
For further information please contact CEO Lesjöfors AB, Kjell-Arne Lindbäck Telephone 46 705749994 or CEO S&P Federnwerk, Cristian Piesch Telephone 49 1725107462.