Lesjöfors has signed an agreement to acquire the German spring manufacturer Stumpp+Schüle GmbH from Paragon Partners. Transfer of control will take place as soon as possible, but not later than June 1, 2012. Stump+Schüle, which manufacture springs and flat strip components, is based in Beuren near Stuttgart and also conducts manufacturing in Slovakia through a wholly owned subsidiary.
Lesjöfors is one of Europe's largest spring manufacturers and has the markets broadest product offering. In 2011, the company generated sales of SEK 1.4 billion and the company has 1,000 employees. Lesjöfors conducts operations in Sweden, Norway, Finland, Denmark, the UK, Germany, Latvia, Russia, China and South Korea.
The Stumpp+Schüle Group generates sales corresponding to around SEK 200 M and has 230 employees. The company's customers are in the automotive and engineering industries. Some 60 percent of sales are generated in Germany.
The acquisition strengthens Lesjöfors' position in Germany, which is by far the largest spring market in Europe. Lesjöfors will be one of the largest suppliers of springs in Germany with sales of about SEK 500 M. Lesjöfors already conducts manufacturing operations in the Ruhr area, and this acquisition will also establish the company in the heavily industrialized region around Stuttgart. For Stumpp+Schüle, the acquisition provides access to additional products and markets through Lesjöfors' other companies, of which China is particularly attractive.
Kjell-Arne Lindbäck, CEO of Lesjöfors, says, "This is a key strategic acquisition. We strive for strong market positions in selected markets. Germany is Europe's largest spring market and this acquisition enables us to strengthen our position there. Furthermore, acquiring access to low-cost manufacturing in another country close to Germany is an additional benefit."
"I am very pleased that Lesjöfors has succeeded in conducting this key strategic acquisition. We aim to be Europe's leading spring manufacturer, which requires being a major player in the German market. This acquisition and the acquisition of Velleuer one year ago have enabled Lesjöfors to triple its sales in Germany. We now have a strong platform for continued growth in Europe," says Beijer Alma's CEO, Bertil Persson.
For further information:
President and CEO, Bertil Persson, Beijer Alma AB, telephone: +46 (0)8-506 427 50
President and CEO, Kjell-Arne Lindbäck, Lesjöfors AB, telephone: +46 (0)70-574 99 94
Beijer Alma AB (publ) is an international industrial group that focuses on component production and industrial supplies. The Group includes Lesjöfors, one of Europe's largest spring manufacturers, Habia Cable, one of Europe's largest manufacturers of custom-designed cables and Beijer Tech with strong positions in industrial supplies in the Nordic region. Beijer Alma is listed on NASDAQ OMX Stockholm Mid Cap.
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